France is world’s seventh largest investor in Egypt – official

France is the seventh largest investor in Egypt, with investments exceeding $4 billion per annum, said co-president of the French Chamber of Commerce in Egypt (CCFE) on Monday.

Egypt’s exports to France grew an annual 17 percent during the first six months of 2017, recording $700 million approximately, Mahmoud El Kaissy added.

From January to June, Egypt’s imports from France also rose an annual 11 percent, El Kaissy said.

Egyptian President Abdel Fattah al-Sisi started Monday his three-day state visit to France, including his first meeting with French President Emmanuel Macron.

“The visit has more than a purpose, mainly attracting new French investments and boosting existing ones in Egypt in the coming period,” the CCFE official stated.

Sisi and Macron are expected to hold a summit on Tuesday for discussions on bilateral cooperation in the fields of politics, economics and military matters.

Sisi’s visit to France is the third since he took office in 2014, but the first since Macron was elected as a president in May this year.