Egypt's parliament passes unified real estate ID law    EGP stable vs. US dollar in early trade    Egypt's El-Khatib: Govt. keen on boosting exports    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt's Health Min. discusses childhood cancer initiative with WHO    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Egypt's EDA discusses local pharmaceutical manufacturing with Bayer    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt expresses condolences to Canada over Vancouver incident    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    49th Hassan II Trophy and 28th Lalla Meryem Cup Officially Launched in Morocco    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Paris Olympics opening draws record viewers    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt, Zambia explore investment openings
Published in The Egyptian Gazette on 30 - 12 - 2010

CAIRO - WITH discussions and presentations on investment opportunities in various sectors, senior Egyptian and Zambian officials and investors came together for a one-day investment forum in Cairo.
The Egypt-Zambia Investment Seminar, held under the auspices of President of Zambia Rupiah Bwezani Banda and attended by a number of ministers from both sides, discussed boosting bilateral economic and business ties between the two African countries.
“The level of trade between our countries isn't acceptable, considering the great potential and opportunities we both have,” Banda told the forum, held on the premises of the General Authority for Free Zones and Investment (GAFI).
The value of trade between the two countries in 2008/2009 was $370 million. In 2009, Egyptian imports from Zambia was $106.5 million, while exports stood at $15.3 million, with theZambian President arguing that these figures could be much higher, given the opportunities in both countries.
Representatives of GAFI and a number of Egyptian chambers of commerce gave presentations about investment opportunities in Egypt, while the Zambian delegation including the ministers of Energy, Commerce, Trade and Industry and Land also gave presentations and led some open discussions about the prospects for bilateral business.
Egypt and Zambia, both members of COMESA (the Common Market for Eastern and Southern Africa), have had diplomatic and political ties since themid-1960s.
While investment opportunities in Egypt hover around shipping, retail, real estate and infrastructure, in Zambia energy, engineering products, value addition and tourism are the key fields for investment. Hence, business opportunities between the two countries are complementary, according to Zambian and Egyptian experts who attended the event.
“In today's forum, there were a lot of ideas and opportunities but more importantly there was much more information,” said Egyptian Minister of Trade and Industry Rashid Mohamed Rashid.
“That's because our biggest challenge is knowledge: the ability of each business community to know about the other. “The second challenge is logistics and that's what we're working on together now.
We have the will to co-operate and now we must find suitable ways to move people and goods between the two countries.” Two agreements were signed at the event between two private sector corporations from each country.
Furthermore, a number of ideas were suggested on Wednesday, including a call by the President of Zambia to form the ‘Zambia-Egypt Business Council', in order to further boost bilateral ties.
“Our presence here today is the start for scaling up our co-operation,” said Zambian Minister of Commerce, Trade and Industry Felix Mutati.
“The near future will witness a higher level of cooperation between us; it's now the turn of our business communities to take the lead.”


Clic here to read the story from its source.