Egyptian economists called for a review of the causes of tension in political relations between Egypt and Iran in order to restart economic and trade relations. They said the January 25 Revolution could serve as a gateway to re-launch the relationship between Cairo and Tehran. The experts told Youm 7 that the volume of trade exchanged between the two countries does not exceed $100 million dollars. They said this is a modest number given the size of the economies of both countries. The experts spoke of the broad prospects for developing relations in light of developments in industrial sectors in both countries as well as the evolution of their markets to allow for commercial cooperation in the fields of industry and energy. Dr. Yemen el-Hamaki, professor of economics at Ain Shams University, said Egypt's January 25 Revolution changed many things on the level of political and economic relations with the world and especially with Iran. He said it is in the interest of Egypt's economy to support relations with Iran, to achieve economic and trade partnerships and benefit from Iranian expertise in the fields of economy, technology and industry, which could earn the country billions. She said Iran's industrial strength is enormous, it has a growing economy and was able to achieve successes in energy, nuclear reactors, textile industries, and technology, and there are some Iranian investments in Egypt, such as Misr - Iran for spinning and weaving. Iran is an important economic force, she added, both industrially and technologically. She said Egypt can benefit from the experiences of Iran in the fields of energy and industry, and Iran can benefit from Egypt's agricultural potential and distinctive experience in other fields such as information technology and industrialization of agriculture. Adel el-Ezabi, vice president of the General Division of Investors, said improving relations between the two countries would encourage private investment within the framework of bilateral agreements. He said, “There is no reason to dismiss them as economic partners for their ideological differences.” He added that trade relations between the UAE and Iran are ongoing despite political problems concerning Iran's occupation of UAE islands. El-Ezabi added that in the sectors of industry, engineering, and oil Iran is witnessing an important development. He said Egypt can benefit from the expertise and experience of Iran in these fields, specifically industry. He referred to Iran's success in the manufacture of a local car, 400,000 vehicles of which are exported to African and Asian markets per year. Dr. Mahmoud Abdel-Hay, advisor to the Planning Institute, said there is a need to develop economic relations with Iran. He said policy considerations of economic cooperation between the two countries should not be hindered. Abdel-Hay said it is time to overcome the political reasons, especially with the expansion of the Iranian economy during the last period. He said the volume of Egyptian-Iranian partnerships are limited compared to partnerships Egypt with other countries, but Egypt has successfully imported many products from Iran including medicines, foodstuffs, building materials, and chemicals, among other things. He also said the January 25 Revolution could act as a chance to improve relations between Iran and Egypt.
