(3 minutes read)
- A number of French economists hail investment policies of Egypt and said that reforms implemented over the past seven years have strengthened the investment-friendly environment and boosted the GDP growth
- Economists also observed that North African county’s geographical location is an added advantage
- Egypt is spending more on infrastructure projects and improvement of its credit rating This will help push up the volume of the French investments in the country in the coming years
A number of French economists hail investment policies of Egypt and said that reforms implemented over the past seven years have strengthened the investment-friendly environment and boosted the GDP growth. Economists also observed that North African country’s geographical location is an added advantage. Egypt is spending more on infrastructure projects and improvement of its credit rating. This will help push up the volume of the French investments in the country in the coming years.
The French economists suggested that there should be regular exchange of visits between senior officials and heads of the major companies in both countries. This will help in boosting the volume of bilateral investments and trade exchange.
They expected the volume of trade exchange between the two countries to pick up this year and the coming one as growth indices are improving in both of them and the coronavirus impacts on the international economy are fading.
The economists also felt that economic and trade relations between Egypt and France is based on the mutual benefit principle. France can act as a suitable gateway for Egypt’s exports to the EU countries. In the same way, Egypt can be a distribution point of France’s exports to Africa, particularly to the Northern side of Africa. .
Private sector in both countries can play a key role in fostering economic, trade and investment relations in the coming stage. Egypt is well poised for playing a crucial role in the energy field at the eastern Mediterranean level in the coming period. The French economists also highlighted Egypt’s role in establishing the East Mediterranean Gas Forum.
Egypt is one of the most important countries receiving French investments. Presently, the total of French investments is 5 billion euros. Close to 170 French companies are operating in the Egyptian market.
The volume of trade exchange between both countries increased by 20% in 2020. This worked to US$ 3 billion.
