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Afro-Asian Economic Council launches project linking Egypt, N. Africa to int'l Silk Road

Chairman of the Afro-Asian Economic Council Tareq bin Eid Al-Ebeid launched a development project for linking Egypt and north African states to the international Silk Road so that Egypt will be the most important maritime and land corridor in the world.

 Addressing a press conference late Thursday, he said the project aims at linking Egypt and north African states to the Asian continent.

He  hailed the role played by President Abdel-Fattah El-Sisi in activating and accomplishing development projects in Egypt, noting that this was one of the main catalysts for expediting the launch of the project.

The project will contribute to realizing development in various sectors in Egypt and north African states as it is expected to lure investments at $2 to 4 trillion, he said.

The project will also play a pivotal role in boosting international navigation movement in the Suez Canal, he added.

The project will also create huge number of jobs for Egyptians in all sectors, he said.

It will also give momentum to trade exchange between Asia and north Africa and, hence, reinforce international peace, he said.

Ebeid noted that he held a meeting with Egyptian Minister of Public Enterprise Khaled Badawi on means of enhancing cooperation, especially drawing on Egypt's long experience in development projects.

He said the council asked Egypt to back Africa in the north Africa-international silk road project that will promote Egypt's position.

He also had talks with Egyptian Investment Minister Sahar Nasr on the importance of promoting Egyptian companies and the investment climate in Egypt.

He commended the new investment law which is encouraging for Arab, African and international investments which will play a key role in sustainable development.


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