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
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
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.
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.