Businessmen Demand Independent Authority For Trade Agreements

Ali El Korey, Chairman of Thai-Egyptian Business Council, called for establishing an authority, an affiliate of the cabinet, to follow up activating the trade agreement, declare the results of these agreements and take up with the public opinion.

El Korey said President Morsi’s exterior visits are positive and bolster the Egyptian economy through opening new horizons and signing cooperation protocols in numerous fields; referring to the necessity of having an authority that responsible for these protocols.

Regarding the Thai investments in the Egyptian market, El Korey said the Thai investments are suspended at the current time, due to the complete instability in Egypt, pursuant to Thai people’s point of vies.

He said the council will organize a delegation, with the participation of the council members, to travel to Thailand mid-October, in order to sign a cooperation protocol and take up increasing the trade exchange volume between the two countries, in addition to discussing the obstacles that face the Thai investors in the Egyptian market.
The volume of trade exchange between the two countries reached $ 600 million by the end of 2011, including $550 million Thai exports to Egypt, and $50 million Egyptian exports to Thai market.