News

Send To Friend
Trade minister discusses with Italian ambassador boosting mutual cooperation
10 December 2021  -  Sector :  -  Entity :  -  Category : General

Other Titles

The meeting discussed transferring Italy’s advanced industrial technologies to the Egyptian industry, as well as cooperation in date production.

Cairo- Dec 10, 2021

Minister of Trade and Industry Nevine Gamea has met with Michael Caron, the new Italian ambassador in Cairo, to discuss means to further deepen economic cooperation between the two countries during the next period.

The meeting discussed transferring Italy’s advanced industrial technologies to the Egyptian industry, as well as cooperation in date production, especially since Egypt is the world’s largest date producer.

“Egyptian-Italian ties have flourished over the past years in various economic fields, Italy being one of Egypt's key strategic partners in the European Union,” Gamea said.

She pointed out that one of the most prominent cooperation projects with Italy is the Robbiki Leather City, with an Italian funding of €6 million within the technical assistance program signed between the two governments.

Caron, for his part, expressed his country’s keenness to strengthen relations with Egypt, one of its key partners in the region, pointing out that the second phase of technical assistance provided by the Italian government amounts to €3 million and is directed to cooperation projects in the fields of leather in Robbiki, furniture in Damietta city and marble in Atfih.

According to official figures, Egypt-Italy trade hit €3.657 billion during the first eight months of the year, up 43% from €2.557 billion during the same period in 2020. Egyptian exports to the Italian market grew 15.8% to €1.215 billion, compared to €1.49 billion a year earlier.

Italian investments in Egypt stand at $2.7 billion, in 1,200 companies operating in the fields of industry, agriculture, tourism, construction, information technology and financial services.

Add new comment
Name*
Email
Comment body*
(0) Comment(s)