Business News

Forum Agrees Slovenia and Egypt Have Potential to Boost Trade

Cairo, 15 December (STA) - There are plenty of opportunities for cooperation between Slovenian and Egyptian companies, and Egyptian partners are interested in almost all kinds of goods from Slovenia, the president of the Chamber of Commerce and Industry (GZS), Zdenko Pavcek, said at a business forum in Cairo on Tuesday.

According to Pavcek, annual trade between Slovenia and Egypt, which now stands at EUR 50m, could be at least doubled soon. He told STA that there were opportunities for cooperation in practically all areas.

The GZS president is heading a 80-strong business delegation which is accompanying Prime Minister Borut Pahor and four ministers on their two-day official visit to Egypt.

The global financial and economic crisis has not hit Egypt and demand is increasing, Pavcek said. He assessed that the visit to the country and the recent visit to Libya were exceptional opportunities to boost Slovenia's economic presence in the two countries.

The interest of Egyptian companies in cooperation with Slovenia is great, he said, announcing a visit of a strong Egyptian business delegation to Slovenia in early 2010.

At the forum, which featured more than a hundred participants, Economy Minister Matej Lahovnik invited Egyptian executives to cooperate with Slovenian colleagues and emphasised the favourable geographical position of both countries.

The minister assessed that logistics, tourism, information technology and finance were the areas with the biggest potential for cooperation.

Trade between Slovenia and Egypt last year stood at EUR 50m, with Slovenia's exports to Egypt accounting for EUR 44m. Total trade in the first seven months of 2009 was at EUR 30m.

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