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Egypt studying debt exchange with Belgium
IBRAHIM BADAWI ANAS HABIB Published in Youm7 on 12 - 10 - 2011

Egyptian Ministry of Foreign Affairs is looking into exchanging its due debts with Belgium for common developmental projects within the framework of mutual consultation, said a spokesperson of the Egyptian Ministry of Foreign Affairs.
Amr Roushdi said that the discussions were headed by Ambassador Amr Helmy, deputy foreign minister for European Affairs, and Alfons Chriseen, head of the Belgium's Middle East administration.
Discussions were held to exchange Egyptian debts with Belgium for developmental projects. The Belgian cabinet approved the exchange of three premiums on the Egyptian debts.
The discussions also touched the Egyptian Cabinet's declarations last week, which said the Egyptian government is keen to protect foreign investment and it is committed to free market policies.
The declarations encouraged the Belgian company Solvay to expand and develop its factory in Alexandria.
Belgium is the second largest in European investor in Egypt after England, said Roushdi.
The discussions also explored common fields for cooperation between Belgium and Egypt.
Roushdi also said that discussants agreed to continue political consultation.
He added that the first round of consultations was in Brussels from June 16 to 17.

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