President Hosni Mubarak concludes his six-day European tour that includes Hungary, Slovenia, Croatia and Italy on next Sunday President Hosni Mubarak's tour comes as part of an ongoing policy to create friendlier relations and boost cooperation with East Europe. Mubarak's talks covered ways to improve exchange between Egypt, the three East European countries and Italy, in the fields of trade, investment, industry, transport, energy, tourism, information technology and telecommunications. He also talked about the global financial crisis and its negative implications for the economies of developing countries. Nuclear non-proliferation, the Iranian nuclear file, freeing the region from nuclear weapons, the peace process and the Palestinian issue were discussed during his meetings with the European leaders and officials. He also briefed them on Egypt's efforts to reconcile Palestinian factions and revive the peace process between the Palestinians and Israelis. In Hungary Mubarak met with President Laszlo Solyom and Prime Minister Gordon Bajani. Together with the Hungarian president he inaugurated the Joint Businessmen Council Forum which has been charged with reactivating relations between the private sector and businessmen in both countries. Expectations are that the visit will result in an increase in the volume of trade exchange between the two countries. It is also expected to increase Hungarian investments in Egypt, which last year stood at LE26 million. There are also plans to develop storage areas for Egyptian goods in Hungary from which they could then be distributed throughout Central and Eastern Europe. The two leaders also exchanged views on regional and international issues of common interest. It is Mubarak's first visit to Hungary. President Solyom visited Egypt in December 2006. In Slovenia he met with President Danilo Turk and Prime Minister Borut Pahor. Again the visit aimed to boost bilateral relations in the economic, commercial and investment fields. Trade between Egypt and Slovenia reached $55 million in 2008, $8 million up on the previous year. In Croatia Mubarak exchanged views with President Stjepan Mesic and Prime Minister Yadranka Kosor on regional and international issues of common interest. The value of Egyptian exports to Croatia amounted to $18 million in 2008 compared to just $6 million in 2004. The balance, though, remains tipped in Croatia's favour. Croatian exports to Egypt grew to $52 million in 2008 compared to $16 million in 2004. Croatian investments in Egypt are currently focussed in the petroleum sector. Mubarak wrapped up his tour with a visit to Italy, and meetings with Italian President Giorgio Napolitano and Prime Minister Silvio Berlusconi. Egyptian-Italian relations have grown ever warmer in recent years and Italy is now Egypt's second largest trade partner after the US. Egyptian-Italian trade hit 5.2 billion euros in 2008, and Italian investments in Egypt stand at five billion euros. Talks with leaders in all four states, but particularly in Italy, touched on ways of reactivating the Union for the Mediterranean project which aims to facilitate economic cooperation between northern and southern Mediterranean countries.
