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Egypt, Qatar promoting investments and boosting trade

Global Arab Network - - Asmaa Malik

Tuesday, 31 May 2011 00:28

Egypt, Qatar promoting investments and boosting trade

Global Arab Network - The Egyptian-Qatari Ministerial Committee reviewed in Cairo ways to promote Qatari investments in Egypt in all fields particularly tourism, oil, trade, transport, food security, agriculture, education, health, manpower and judiciary.

Minister of Planning and International Cooperation Fayza Abul-Naga who co-chaired the committee meetings with Qatari Minister of State for International Cooperation Khaled bin Mohamed al-Attia, said the two sides agreed on an executive plan and projects that fall within the framework of the $10 billion promised to be offered to Egypt by Qatari Emir Sheikh Khalifa bin Hamad in the form of new Qatari investments and projects in Egypt.

The two sides agreed on the formation of a committee to follow up these projects, she added.

The meetings pave the way for the higher joint committee meetings to be held at the level of the two premiers, Abul-Naga said.

Qatar is mulling financing of a project to establish a port in the western Alexandria region of Mallahat that would create around 200,000 jobs. Qatar is also pumping $9 billion into investment projects in Port Said, she added.

ُFor his part, Attia said the committee meetings are a translation of good relations between Egypt and Qatar on all fronts.

The Qatari official added real estate companies in his country want to do business in Egypt.

During the Egyptian-Qatari joint committee for cooperation agreed on the establishment of two joint companies for agricultural investment in Sudan and another African country.

Saad Nassar, the advisor to the agriculture minister and head of the Egyptian delegation to the committee, said the Egyptian and Qatari sides reached an agreement during the meeting on cooperation in the different domains such as agricultural research, water scarcity and desertification.

New facilities for Qatari investors in Egypt

Head of the General Authority for Investment and Free Zones (GAFI) Osama Saleh said a Qatari office will be opened at the authority to deal with Qatari investors and resolve any problems that may face them as part of the government's keenness on simplifying procedures for investors in Egypt.

In statements on the sidelines of meetings of the Egyptian-Qatari committee, Saleh said offices for all the Arab states will be opened at GAFI to encourage and increase Arab investments in Egypt. (SIS)

Global Arab Network

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