CAIRO: Global Trade Matters (GTM) is set to launch its 2006-7 Egypt sessions through a string of conferences which will revolve around improving multi-lateral and bi-lateral trade in the region, focusing on how to increase Egyptian exports and promote the country’s attractiveness towards Foreign Direct Investors from different parts of the world.
In 2004 bi-lateral trade between Egypt and the European Union reached nearly LE 80 billion in total, with at least LE 30 billion corresponding to Egyptian exports to the EU.
On Dec. 14 Global Trade Matters (GTM), with the support of the Ministry of Trade and Industry, will bring together government officials, business leaders, and foreign investors at the “The Economic Neighborhood Watch conference at the Semiramis Intercontinental Hotel.
Considered the most significant in defining the trade relationship between Egypt and the EU, the conference will examine specific areas of Egypt/EU trade and investment under the Euro-Egyptian Association Agreement (AA), and explore how the AA and its various programs can be used to facilitate trade growth and investment opportunities between Egypt and the EU.
It will also present an assessment of the AA’s progress and setbacks since it’s ratification in 2004.
One particular issue that is likely to surface on the sidelines of “The Economic Neighborhood Watch is 2004’s European Neighborhood Policy (ENP) which was created by the EU with the aim of narrowing the division within the enlarged EU and its surrounding Mediterranean neighbors, in this case Egypt.
Egypt has not yet signed on to the ENP.
But Ashraf M. Naguib, Managing Director of GTM, believes a discussion of the ENP’s advantages to Egypt-EU trade is crucial for the conference.
“Identifying potential opportunities and challenges that may lie ahead is essential, Naguib told The Daily Star Egypt, “because despite the visible growth in bilateral trade between the counterpart signatories, vital points of incongruity still remain, especially in regards to Egyptian agriculture and processed food exports.
With the EU agricultural protectionism policy subsidies to European farmers, Egyptian farmers find it harder to compete, Naguib explained.
“So important is this point; that the GTM conference on Egypt/EU trade and investment has put together a comprehensive panel of experts from the Agro-business and Agrifood sectors to help identify areas for potential growth and expansion of Egyptian exports to the EU.
Expected to inaugurate the Dec. 14 event will be a representative from the Office of the Minster of Trade and Industry.
