Global Arab Network | Egypt, Spain setting up navigation line to facilitate trade movement

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Egypt, Spain setting up navigation line to facilitate trade movement

Global Arab Network - - Gamal Ragay

Wednesday, 12 May 2010 11:54

Egypt and Spain agreed to study the establishment of a navigation line between Alexandria and Spain's Barcelona to facilitate the trade movement between the two countries, said Egypt Trade and Industry Minister Rasheed Mohamed Rasheed during his talks with Spanish Minister of State for Trade Silvia Iranzo.

The line will also facilitate the access of Egyptian export to European markets to increase the products' competitiveness, he added.

The two ministers also agreed on cooperating in several fields, including food industries, textiles, ready-made garments, medicine, leather, infrastructure and energy projects.

Despite the financial crisis, the volume of trade exchange between Egypt and Spain reached 2.3 billion euros in 2009, Rasheed said.

Rasheed and Spanish Minister of State for Trade Silvia Iranzo also opened on May 11th 2010 the Egyptian-Spanish business forum, in which 300 businessmen from both countries participated.

Iranzo praised the economic reform carried out by the Egyptian government, positively reflected on growth rates.

A huge number of Spanish companies are willing to invest in Egypt in different sectors, she added.

Global Arab Network

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