Egypt, Polish ministers discuss establishing industrial zone in Suez Canal

The Egyptian minister of investment, Omar Nassar has met with The Polish  Ministry of Investment and Economic Development, Jerzy Kwieciński discussing the establishment of a Polish industrial zone in the Suez Canal area.

The meeting was attended by Head of the Egyptian Commercial Service Ahmed Antar, the chairman of the Commercial Representation Authority, Head of the Trade Agreements and Foreign Trade Sector Amany al-Wasal, Ambassador of Poland in Cairo Mikhail Morcuchinsky, and President of the Egyptian Trade Office in Poland Abdel Aziz al-Sherif.

The ministers also discussed the possibility of pumping investments in Egypt’s national projects.

They also explored investment opportunities and discussed means of promoting co-operation between Poland and Egypt in trade and the economic and investment fields.

Nassar pointed out that they have reviewed of the final procedures for the establishment of Egyptian-Polish Joint Chamber of Commerce, which will contribute to enhancing cooperation between the business community in both countries, and discussed the proposal of the Polish side to establish an Egyptian business council Polish joint as a preliminary step to establish a joint chamber of commerce.

The trade exchange between Egypt and Poland has recorded $418 billion last year.

The minister also refered to He pointed to the Egyptian exports to Poland over the past year that recorded about $ 143 million compared to $ 125.6 million in 2016,  with an increase of about 13%.

The Egyptian imports decreased 26 percent, recording $276 million, compared to $373 million in 2016, Nassar noted.

For his part, the Polish minister of investment and development stressed his country’s keenness to strengthen the economic cooperation with Egypt as one of the pivotal countries in the Middle East and Africa that plays a key role in stabilizing this vital region.

Kuchinsky said that his country is implementing an ambitious plan to upgrade the Polish economy, which has witnessed a big boom over the past years, placing itself among the fastest growing economies in Europe.

He emphasized the importance of maximizing the benefit of the great potential available to both countries to expand the volume of economic and investment relations during the next phase.