British investments in Egypt reach $5.4 billion
British investments in Egypt currently stand at $5.4 billion, making Britain Egypt’s largest foreign partner after the United States, reported Mohammad Ghamrawi, the head of General Authority For Investment and Free Zones.
Ghamrawi was talking at an annual round-table meeting involving Egyptian and British business executives. Discussed at the meeting were investment opportunities in the fields of oil refining, natural gas liquefaction, electricity, information technology (IT) and petrochemicals.
Egyptian exports to Britain equaled $140 million during the first two months of 2001, 41 percent more than during the same period a year earlier. Egyptian imports from Britain fell by 24 percent over the same period, meaning that, for the first time ever, the trade balance has been in Egypt’s favor, said Taher Al-Sherif, the secretary-general of the Egyptian-British Chamber of Commerce. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)