Egypt, Italy join forces to set up Italian trade, logistics entity

Egypt and Italy have signed nine memorandums of understanding (MoU), including on the establishment of an integrated Italian trade and logistics entity in Cairo, according to a statement by the supply ministry on Sunday.

Minister of Supply Ali Mosselhi witnessed the signing of the MoUs inked after the conclusion of the second Egyptian-Italian Economic Forum hosted by Cairo last week.

Another MoU was signed between the Egyptian Holding Company for Silos and Storage and an Italian company to continue a national plan to set up silos in Egypt, according to the statement.

The third deal was clinched between the Egyptian-European Investors Association and the Italian Confederation for Economic Development to set up a centre for the design of leather and furniture products.

The other deals include cooperation in the fields of agricultural products, electronics and the real estate sector.

Meanwhile, Mosselhi expressed happiness over the success of the Egyptian-Italian Economic Forum’s meetings, which he described as a step reflecting the strength of the two countries’ economic relations, noting that the signed deals would achieve profits for the Egyptian economy.

He extended an invitation for Italian companies to take part in the Mediterranean Forum meeting due to convene in March.

Meanwhile, head of the Italian Confederation for Economic Development Jose Romano asserted that the Italian companies are deeply interested in establishing business in Egypt, highlighting the recent measures taken by the Egyptian government to attract and facilitate foreign investments

Source: Ahram Online