Page 108 - Benaa.Vol01

Report

Egyptian business institutions in Cairo, a nificant role played by popular initiative, said the Lebanese in-
Prepared by major private
diplomacy. Qabeel said that an
vestments in Egypt has risen to
Egyptian- Lebanese Forum for
road was constructed which ac-
$4 billion which is seen as an
cooperation with Africa was
cording to Qabeel will facili-
added value to the two coun-
BENAA Exports to tate the ex- established. The forum will in- tries’ efforts to maintain and
clude prominent public figures
secure strong economic ties de-
change
of
spite of the economic hard-
from Cairo, leading Lebanese
imports of joint
businessmen in Africa who
economic ven-
ships. He pointed out that a
Venture
tures with the
will lead the way for the Arab
good number of Lebanese busi-
African- Leba-
beel believes that such forum is
means of pouring into the local
nese partners. popular diplomacy there. Qa- nessmen are currently studying
into the A especially part of a mechanism to pro- market new investments espe-
cially in the field of construc-
mote the dream of Arab- Afri-
designed brand
for ready- can economic cooperation and tion, banking and food indus-
African made garments integration that reach out for tries. He referred to some $7
to Africa is
billion current investments by
all countries in the continent.
EXPOT COUNCIL BUILDING, REFRACTORY & METALLURGY INDUSTRIES
also on the way Africa has several economic the Lebanese in building mate-
Markets as part of the blocs like the COMESA, SA- rials and food industries. The
through
Lebanon

Hectic efforts have been made by the Egyptian and Lebanese investors to maintain
strong business ties and enhance their presence in the African markets. The two countries
have lost a lot of their traditional markets especially in the Arab region and thus turned
their heads to Africa where several states have been witnessing economic boom. Within
this context, the Egyptian- Lebanese initiative has become the major headline under which
several steps were taken. Forming the ‘Egyptian- Lebanese Enterprise for Trade and
Investment in Africa’ was described by Tareq Qabeel, Minister of Trade and Industry, as the
cornerstone of the initiative. The enterprise will enhance and unify the efforts of the two
sides to firmly stand for competition and venture into the new African markets and later, as
the minister said, will open up its doors for Arab businessmen in general as a mean to
expand exports from the Arab countries to Africa. A big delegation of Lebanese
initiative where young design- DEC and IYAC which involve sectors of medicine and build-
businessmen had thus visited Cairo especially the industrial zones to get more acquainted ers from Lebanon, Eretria and half of the African states and a ing materials are the most to be
with the capabilities of the local industries in Egypt. At the same time, Qabeel said, several Egypt will take an active part GDP of over $4 trillion annual- benefited from the initiative…
joint trade missions had been organized to some African states as part of the initiative. in introducing their new outfits ly. "The building materials sector
These trade missions which will visit the Ivory Coast, the Democratic Congo and Uganda to women in this area. Mohamed Zayed, Egypt's for- is an active partner and is char-
by the end of this year, have become an active tool in promoting the Egyptian exports in The Egyptian minister of mer ambassador to Lebanon acterized by a huge production
the continent. trade has also stressed the sig- and the mastermind behind the surplus which will be an added
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