Egypt’s Ministry of Foreign Trade plans to restructure the foreign trade sector in April in cooperation with the US agency for International Development (USAID), reported Al-Ahram. The restructuring process is expected to cost $40 million.
The project seeks to increase the efficiency of the country foreign trade apparatus by implementing a number of training programs both inside and outside of Egypt. The project also includes a program for the implementation of information technology systems within the sector.
Saudi Arabia is Egypt's top trading partner in the Arab world and the largest Arab investor in Egypt. According to official Saudi figures, commercial exchanges between the two countries stood at 2.19 billion Saudi Riyals ($590 million) in 1999, a SR 500 million drop as compared to the figure of 1998, and one billion riyals lower than in 1997. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
