Minister El-Khatib outlines Egypt's competitive edge for investors    BNY Mellon, HSBC express optimism for Egypt's economy at BEBA mission    Sustained economic reforms drive foreign investment in Egypt – FinMin    Somalia condemns unlawful arms shipment from Ethiopia to Puntland State    Egypt's PM assures no more power cuts, highlights investment growth plans    Egypt's Foreign Minister meets with US lawmakers in Washington    Egypt chairs Khartoum Process meeting on migration, development    Egypt's El-Khatib seeks to boost renewable energy investment with UK companies    Al-Mashat, AfDB Special Envoy discuss development cooperation for Egypt    China imposes sanctions on US arms suppliers to Taiwan    Basketball Africa League Future Pros returns for 2nd season    Google wins EU legal battle over €1.5b fine    Egypt's Environment Minister outlines progress on sustainability initiatives    US examines increased Chinese uranium imports    L'Oréal Egypt Hosts 9th Annual Skin and Hair Summit, Unveils New La Roche-Posay Anti-Pigmentation Serum    Al-Sisi calls for emulating Prophet Muhammad's manners at birth anniversary celebration    Culture Minister directs opening of "Islamic Pottery Museum" to the public on 15 October    Restoration project at Edfu Temple reveals original coloured inscriptions for first time    Egypt joins Africa's FEDA    Egypt's Culture Minister seeks input from Writers Union on national strategy    Egypt awards ZeroCarbon solid waste management contract in Gharbia    Egypt, UN partner on $14-m coral reef protection project    ADB approves $93.6m for Cambodia's rural utilities    Egypt condemns Ethiopia's unilateral approach to GERD filling in letter to UNSC    Egyptian pentathletes dominate world championships in Lithuania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Egyptian Olympic athletes champion local sportswear    Egypt's FM, Kenya's PM discuss strengthening bilateral ties, shared interests    Paris Olympics opening draws record viewers    Former Egyptian Intelligence Chief El-Tohamy Dies at 77    Who leads the economic portfolios in Egypt's new Cabinet?    Egypt's President assigns Madbouly to form new government    Financial literacy becomes extremely important – EGX official    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Great expectations
Published in Al-Ahram Weekly on 27 - 11 - 2014

Minister of Foreign Affairs Sameh Shoukri, Ministry of Industry and Foreign Trade Mounir Fakhri Abdel-Nour, Minister of Investment Ashraf Salman and Minister of Supply and Internal Trade Khaled Hanafi accompanied President Abdel-Fattah Al-Sisi on his first visit to Europe since taking office.
During the four-day tour the president met his Italian counterpart Giorgio Napolitano and conducted separate meetings with the head of the Italian parliament Pietro Grasso, Italian Prime Minister Matteo Renzi and Italian Foreign Minister Paolo Gentiloni. The president and his delegation also met with Italian businessmen to discuss ways of increasing Italian investment in Egypt.
Al-Sisi told Napolitano that Egypt had already completed two of the three main steps outlined in the political road map posited following the removal of Mohamed Morsi. A new constitution was now in place and presidential elections held. “The remaining step, parliamentary elections, will be completed during the first quarter of 2015, before the International Economic Forum Egypt will hold in March,” said Al-Sisi.
The president also focused on Egypt's efforts to combat terrorism. “These efforts are not only for Egypt's welfare but that of the whole region and Europe. Many European countries are seeing a growing number of their citizens joining terrorist groups,” said Al-Sisi.
During a press conference held by Al-Sisi and Renzi the president underlined the European role in combating terrorism in the region. “We expect genuine solutions, and support for Egypt in boosting its economy and combating terrorism,” said Al-Sisi.
Renzi said Egypt was a strategic partner and “our countries both share the problems of the Mediterranean region”.
During his meetings with Pope Francis and the Vatican's Secretary of State Pietro Parolin, Al-Sisi dicussed relations between Al-Azhar and the Catholic Church, says presidential spokesman Alaa Youssef. The visit to the Vatican was the first by an Egyptian president for eight years.
President Al-Sisi met Pope Francis for 20 minutes during which he presented a silver box as a gift and received a papal medallion and a papal document “The Joy of the Gospel”.
“Al-Sisi's visit to the Vatican reflects the president's profound appreciation of Pope Francis's efforts to halt military intervention in Syria and his support for humanitarian and developmental projects across the world, and particularly in southern Africa and the Palestinian territories,” said Youssef.
Al-Sisi headed to France on 25 November. On 26 November he met with French President Francois Hollande at the Elysée Palace and later held separate meetings with the heads of parliament and the Senate, Minister of Foreign Affairs Laurent Fabius and Minister of Defence Jean-Yves Le Drian. He also met with French investors, businessmen and representatives of French tourism companies.
The president's visits to Italy and France focused on efforts exerted by Egypt and other countries to combat terrorism, paying special attention to the situation in Libya, and on the Egyptian government's economic plans.
“The economic file and reinforcing mutual relations with both European countries topped the president's agenda,” said Youssef.
Other topics discussed included the situations in Palestine, Iraq and Syria and the war against the Islamic State of Iraq and Syria (ISIS).
Italy is Egypt's leading trading partner in the European Union (EU) and its third after the US and China. Trade between the two countries was estimated at $6 billion in 2013.
Italian investments in Egypt are estimated at $2.6 billion and cover transport, construction, banking and automobile components.
“Al-Sisi's visit to Italy reflects Egyptian interest in boosting bilateral relations,” says Dahlia Hegazi, professor of economics at Cairo University's Faculty of Economics and Political Science. Italy, she adds, increasingly focusing its attentions on the Mediterranean basin “and this is of great interest to the Egyptian side”.
One goal of Al-Sisi's visit to Italy, says Hegazi, was to convey to Italian businessmen the message that Egypt is open for business. Al-Sisi underlined legislative and procedural initiatives intended to reduce red tape, and the accompanying delegation detailed key investment projects already being implemented and others in the pipeline.
“The president's visit to Italy and France took on additional significance given Egypt is preparing for an international economic forum to convene in March next year. Visits to other European countries are to be expected in the near future as Egypt seeks to drum up support for its economy,” adds Hegazi.
Aliya Al-Mahdi, professor at Cairo University's Faculty of Economics and Political Science, says Al-Sisi's visit to France reflects a mutual desire to strengthen relations.
“Both countries want greater cooperation in the fields of trade and investment. Italy, Germany, Denmark and the US have already lifted travel warnings on visiting Egypt and other EU countries are moving to do the same,” says Al-Mahdi.
Paris and Cairo share deep concerns over the situation in Libya. Both Egypt and France believe the terrorist threat in Libya warrants the same level of attention as that is being paid to ISIS.


Clic here to read the story from its source.