The Chamber of Alexandria announced Tuesday the initiation of the Tex Med Cluster project to support the textile industry in Egypt, according to a press release by the Chamber of Alexandria. The project is funded by the European Union within the framework of "Mediterranean Sea basin programme", which aims to promote socio-economic development, environmental sustainability at the basin level and better conditions and modalities of persons, goods and capital. Ahmed Al-Wakil, chairman of the Chamber of Alexandria and vice president of the Association of the Mediterranean Chambers of Commerce and Industry, said that the project aims to attract investments, transfer technologies and modern management methods and increase exports. Alaa Ezz, secretary General of the Egyptian-European federal rooms, said that the European partners in the project include the Italian Industries Federation, Spanish textile association and the technical centre for textiles, which will cooperate with the Sustainable Textile Mediterranean Network (Sustexnet) to provide the technical assistance needed for the project. Ezz stressed the importance of the projects funded by the EU, as it is the first trade partner with Egypt and the source of more than 60% of direct foreign investments to the country. The 14 countries participating in the programme are: Cyprus, Egypt, France, Greece, Israel, Italy, Jordan, Lebanon, Malta, Palestinian Authority, Portugal, Spain, Syria and Tunisia.
