European investments in Egypt rose 4% in 2015- EU’s Moran
European investments in the Egyptian markets have been boosted by 4 percent during 2015, Head of European Union Delegation to Egypt James Moran stated Thursday.
The European Union targets boosting the volume of European investments and mutual trade with Egypt within the upcoming period, the head stated.
He made these remarks during a conference held Thursday to inaugurate EU’s Trade and Domestic Market Enhancement Programme.
The Programme is funded by the European Union to the magnitude of €20 million and will run till the end of 2017.
By launching the programme, the mutual trade and economic relations will be re-enhanced , Moran clarified, adding that the new programme is coinciding with the economic reform programme announced within the Sustainable Development Strategy of Egypt.
Head Moran noted that the volume of mutual trade between Egypt and the EU has been increased by 11 percent since the beginning of 2015.
There are a lot of sectors available for EU to increase the cooperation with Egypt notably the service one since the second owns prominent opportunities to rise its exports through this sector, Moran said
The official pointed out that the policies that Egypt adopted recently to protect its local industry have been also adopted by the EU previously since they aimed at the favor of economic and social development.
On other side, Trade and Domestic Market Enhancement Programme supports the Egypt trade ministry and its affiliates in their efforts to facilitate competitiveness and job creation in the Egyptian economyin line with the targets set in the Sustainable Development Strategy 2030.
The Programme targets boosting Egypt’s role in international trade through benefiting from transparent policies and international trade agreements. Additionally, it aims at boosting industrial development through improving quality infrastructure necessary for liberalising trade, especially towards the EU.
Moreover, the Programme eyes minimising the economic differences and creating more job opportunities through focusing on developing SMEs.
