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Egypt: Montenegro Explore Economic Cooperation and Trade Exchange

Egypt: Montenegro Explore Economic Cooperation and Trade Exchange
Published date: 12.10.2010 15:05 | Author: Bureau

Ispis Print

Egypt (Cairo) – Egyptian Prime Minister Dr. Ahmed Nazif and his Montenegro counterpart Milo Djukanovic discussed boosting bilateral economic cooperation and trade exchange. Talks also covered increasing Egyptian investments in Montenegro.

The session of talks was attended on the Egyptian side by Minister of International Cooperation Fayza Abul-Naga and Minister of Tourism Zohair Garana and from the Montenegro side by the ministers of economy and tourism.

Nazif, at a press conference he held with his Montenegrin counterpart at the Smart Village, said Montenegro can provide a gate for Egyptian products to central and Eastern Europe.

He said there were promising prospects for increasing Egyptian investments in this emerging republic that gained independence four years ago especially in the fields of energy, construction, communication and tourism. He cited the investment success story of Egyptian company Orascom in Montenegro.

Djukanovic, for his part, praised the Egyptian companies that have already started work in his country, such as Orascom. He expressed hope that its success would encourage other Egyptian firms to invest in Montenegro especially in the fields of infrastructure, construction, tourism and energy, saying that his country plans to establish mega projects in the coming stage to boost the process of development and its economic potentials after its independence.

Djukanovic spoke of the historical relations that tied Egypt and former Yugoslavia which Montenegro was part of. "We will build on this relationship to promote the process of cooperation in the future between the two countries and to attain together the principles of peace and stability whether in the Middle East, in the European continent or the Mediterranean Basin," he said.

Djukanovic also said he will meet while in Egypt with leading Egyptian businessmen to canvass the promising opportunities for investment between the two countries as well as increasing trade volume. He said Montenegro is interested in boosting cooperation with Egypt within the framework of the Union for the Mediterranean.

Tourist cooperation is very important given Montenegro's abundance of tourism spots and resorts including therapeutic tourism, he said, and he invited Nazif to visit his country to continue talks on boosting bilateral cooperation.

Global Arab Network