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Egyptian-Portuguese business forum in mid April

An Egyptian-Portuguese business forum will be held in mid April with the participation of a large number of businessmen of both countries, Egyptian Trade and Industry Minister Tareq Qabil said on Friday.

During the first meeting of the Egyptian side of the Egyptian-Portuguese business council, Qabil said the council will convene with the participation of both sides within the framework of the forum.

Qabil said the forum and the council meeting represent an important opportunity to spell out the economic and legislative reforms carried out by Egypt to encourage investment.

He expressed optimism that the council meeting would boost economic cooperation and investment  between Egypt and Portugal.

He noted that Egypt's leather city – the largest in the Middle East – would offer a promising opportunities for Portuguese businessmen as Portugal ranks as the second biggest importer of Egyptian leather.

Egypt's exports of leather to Portugal stood at $ 34 million in 2017 and are expected to double in the coming period.

He underlined the importance of getting a boon from the distinguished geographical locations of the two countries as Egypt would be the gate for Portuguese products to access the Middle East and African markets and Portugal can also be the gate for Egyptian products to enter the markets of Latin America.

He noted that the volume of trade exchange between the two countries stood at 218 million euros in 2017 against 192.57 million euros in 2016.

Secretary General of the Federation Of Egyptian Chambers Of Commerce  Alaa Ezz said negotiations are underway with Portuguese transport companies on establishing a maritime line linking the two states alongside western African countries,

He added that efforts are underway to re-operate a direct airline between the two countries.

Egypt is drawing up a mechanism for promoting Egyptian exports in Portugal in order to facilitate Egypt's participation in specialized exhibitions in the Latin American state.

 

 

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