Egypt-EU confederation THE CONFEDERATION of Egyptian European Business Associations (CEEBA) was launched this week. The confederation is the fruit of an agreement signed between the Egyptian Italian Chamber of Commerce, the German Arab Chamber of Industry and Commerce (GACIC), the British Egyptian Business Association and the Egyptian French Business Council. The confederation was created to act as a body for Egyptian pan-EU cooperation at the non-governmental level. It aims not only at coordinating between the Egypt-EU bilateral associations, but also at promoting Egyptian pan-European trade, investment and technology transfer. It will also act as a bilateral chamber of commerce for EU member states which do not already have one. The establishment of the Confederation comes at a critical time, following the enlargement of the EU on 1 May and the full entry into force of the Egypt-EU Association agreement on 1 June 2004. Membership of the Confederation will include, besides the heads of the four founding bilateral chambers, a representative of the EU's 25 members. It will not include any direct membership of companies. No membership fees will be collected. The founding institutions will finance all the activities of the Confederation. The Confederation will consist of an Advisory Council which includes the representatives of the 25 EU countries headed by the representative of the country heading the EU. Its presidency changes every six months corresponding with that of the EU. It will also consists of an Executive Board which is made up of seven members. These include the representatives of the four founding institutions and three members of the Advisory Council (a representative of the EU15, other than the founders and two from the 10 new accession countries). The Confederation will be managed by the secretary-general to be chosen by the executive council. GACIC will be home to the general secretariat of the Confederation. TE's Xceed TELECOM Egypt (TE) officially launched its contact centre "Xceed" last week. The centre, located in 6th of October city will provide customer support to TE's 8.3 million customers. Starting 1 June, fixed line subscribers may call 111 for any complaints or to add a service to their phone. Each phone subscriber will be supplied with a PIN code which they can input upon ordering the service. "Eventually subscribers will not need to go to the telephone exchanges at all," TE Chairman Akil Beshir said during a recent press conference. But Xceed will not only service TE clients. With a capacity of 1,200 agents, the contact centre will be used to export call-centre services such as technical support or telemarketing by hiring out agents to local and foreign companies needing such services. Trade heating up at Sokhna WITH THE AIM of increasing bilateral agricultural trade between Egypt and Australia, Warren Truss, the Australian minister for agriculture, Fisheries and Forestry held talks with senior Egyptian officials during a recent visit to the Sokhna Port and Logistics Centre. The possibilities are being explored for Egypt to import grain, fertilisers and livestock from Australia, which would be stored and processed at Sokhna Port on the Red Sea coast. "We are envisaging several Australian ventures within the port, which will attract foreign direct investment and serve as a catalyst for business between the two countries," said Osama El-Sharif, president and CEO of Sokhna Port Development Company (SPDC). The SPDC has made an agreement with the Australian Wheat Board (AWB) to construct grain silos with the port's agri-bulk terminal at Sokhna and the strategic warehousing of 100,000 tons of grain. "I am confident that Sokhna Port will help us increase the level of trade between Egypt and Australia as it is indeed a world-class facility," said Truss. During his tour at the Sokhna port, Truss also visited the new laboratories, which are due to be inaugurated by Prime Minister Atef Ebeid this month. These testing facilities join the ranks of the very few internationally accredited laboratories in Egypt. They will be managed and operated in partnership with one of the leading global testing and inspection companies. "The laboratories will enable for swift and imported and exported goods greatly reducing dwell time," said El-Sharif. To recognise the certificates issued by the Sokhna Port laboratories, Sokhna Port will sign a mutual recognition agreement with the Australian Government Quarantine and Inspection Service. This agreement will help boost Egyptian exports worldwide. The coming period will also witness the signing of a long-term trade agreement between AWB, SPDC, and a number of Egyptian government entities which include the building of storage silos at the Sokhna Port with a capacity of 100,000 tons in partnership with other European investors. BMW's "Made in Egypt" IN A JOINT-VENTURE deal with Bavarian Auto Group, BMW re-opened its manufacturing plant Monday in its new facilities in Sixth of October City. The inauguration was attended by Egyptian Minister of Industry and Technological Development Ali El-Saiedi, Senior Vice-President of BMW Group Lueder Paysen, and other officials. The new factory, which will produce the CDK line (Completely Knocked Down), is one of the most modern manufacturing plants in the region. The $60 million plant has brought a total $35 million into the country so far. Bavarian Auto Group says an additional $25 million will be invested in an up-to-date paint shop and a state-of-the-art infrastructure in terms of showrooms and service facilities. "Today marks a very concrete statement of our confidence in the Egyptian economy and its unrestrained potential in the coming years," said Ulrich Urban, CEO of Bavarian Auto Group. BMW's "Made in Egypt" line is intended to serve the entire Middle East region. "Our projected sales for 2004 is expected to reach over 1,500 units for various models of the three and five series, and is expected to reach more than 2,000 units for 2005," said Urban. The factory opening hopefully marks the end of a difficult period for BMW Egypt, after the German automotive group suspended the license of former BMW importer Hossam Abul-Futouh, when the businessman was ordered to trial by the Financial and Commercial Affairs Court on allegations of customs evasions and bribery.
