Austrian Minister promotes investment in Egypt

Published April 18th, 2001 - 02:00 GMT

The Austrian Minister of Economy, Martin Partinstien, has recently concluded a visit to Cairo, reported Al-Ahram newspaper, with a specific agenda on hand. According to the report, the minister asserted that this visit was aimed at supporting the special initiative designed with the objective of promoting incoming Austrian investments into Egypt.  

 

This initiative, which was proposed by the Austrian government, aims to produce a bilateral investments protection agreement between Egypt and Austria, outside the framework of the European Union. The Austrian minister described his meetings with several Egyptian ministers and top executives as very successful.  

 

Furthermore, the minister stated that the value of the Austrian exports to Egypt hit $120 million last year, whereas the value of the Egyptian exports to Austria amounted to $30 million in the same year. In addition, several hundred thousands of Austrian tourists visit Egypt annually. —(Albawaba-MEBG)

© 2001 Mena Report (www.menareport.com)


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