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Egyptian-Portuguese businessmen forum to open in Cairo on Thursday

The Egyptian-Portuguese Business Forum will open in Cairo on Thursday, thus offering a great chance for for businessmen of both countries to review the latest economic developments and available investment opportunities.

Portuguese President Marcelo Rebelo de Sousa will deliver a speech during the inauguration, the Portuguese embassy in Cairo said on Monday.

The Federation of Chambers of Commerce organizes the event in collaboration with the Agency for Investment and Foreign Trade of Portugal, according to the embassy.

Egypt and Portugal signed five memos and cooperation deals during their first joint committee which convened in Cairo last October.

The cooperation deals and memos covered the fields of tourism, youths, sport, air services and international archiving.

According to official data, Egypt-Portugal trade rose to €218 million last year, compared to €192.57 million in 2016. Main Egyptian exports to Portugal are: leather, steel, cotton, plastics, fertilizers and sugar; while imports from Portugal include: paper, petroleum, furniture and industrial equipment.

Portuguese investments in Egypt are worth $404,7 million in the sectors of ICT, ready-made clothes, and new and renewable energy.


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