CAIRO: The Czech Republic is looking to double its volume of trade with Egypt in the foreseeable future according to the Czech Deputy Foreign Minister for Economical Affairs David Gladis who was in Cairo spear-heading a trade delegation to discuss potential deals in Egypt.
Speaking at the Czech Embassy in Cairo Monday, Gladis said “we expect trade between the two countries to double in the next 2 to 3 years.
The current volume of trade between Egypt and the Czech Republic stood at $200 million for the year 2006, and it is this number Gladis is aiming to build on.
“There has been economic cooperation between the two countries for many years, he said, “especially in the area of heavy machinery. We still felt in the last 3 years that the potential is much higher.
“Now is the time to strengthen our cooperation and increase the volume of trade, whether imports or exports, Gladis added.
Czech Ambassador to Egypt Miroslav Stasek said that Gladis was “accompanied by 20 companies in many activities and that the three main areas of interest were water treatment, public transportation and tourism and the building of tourism resorts.
The companies specifically come from sectors such as transport and railway automation technologies, production of rail vehicles, environmental projects, water supply and irrigation. According to Stasek, three deals were in the final stages of negotiations in the tourism sector.
Czech Commercial Counselor Jiri Capek stated that the mission was divided into two halves, the first being in Cairo and the second to be carried out in Alexandria, which is where the delegation will head out to.
“There are thousands of opportunities on how we can conduct business between our countries, Capek said.
Gladis told The Daily Star Egypt that this particular mission will not be looking to strike any deals in the military sector, but that the Czech Deputy Defense Minister would be heading another mission to Egypt in October.
Like Egypt, the Czech Republic boasts high annual growth rates, recording 6.5 percent GDP growth last year. Additionally, it has the highest number of investment per capita in Europe.
Gladis conducted talks with the Ministries of Trade and Industry, Investment and Transportation during his visit and will also meet with the Minister of Environment Maged George and the Governor of Alexandria in the second half of the mission.
