French business delegation to visit Egypt this month: official

A French business delegation will visit Egypt this month, aiming to explore economic cooperation between the two countries, an official in the Egypt-France Business Council (CFEA) said Sunday.

The delegation will consist of French business leaders representing between 15 and 20 companies working in the field of developing sustainable cities, the Egyptian side president of the CFEA Fouad Younes told Amwal Al Ghad.

The companies, which formerly signed agreements with the Egyptian Ministry of Housing, will explore investment opportunities in Alexandria, the country’s new administrative capital project, and the Suez Canal cities, Younes added.

“There will be another business delegation set to pay a three-day visit to Egypt by early next year, to meet with a number of the economic group of Egypt’s Cabinet along with visiting some factories and industrial zones.” Younes said.

French President Emmanuel Macron will also take a delegation of several business leaders during his visit to Egypt, expected to take place in April or May 2018, the Egyptian official added.

In 2016, France’s investments in Egypt stood at €4 billion ($4.6 billion) approximately, including around 458 projects in the fields of information technology, construction, new and renewable energy, transport, banking, aviation, water treatment, infrastructure, and tourism.  These projects employ more than 40,000 Egyptians.

Trade between Egypt and France in 2016 reached €2 billion, including €500 million in Egyptian exports, Egyptian Trade Minister Tarek Qabil said earlier in October when he accompanied President Abdel Fattah al-Sisi on a visit to France.