Business News

Forum Discusses Ways to Increase Trade with Egypt

Ljubljana, 29 September (STA) - As an Egyptian business delegation is visiting Slovenia this week, the Agency for Entrepreneurship and Foreign Investments (JAPTI) and the Embassy of Egypt organised a Slovenian-Egyptian business forum at the headquarters of the Chamber of Commerce and Industry (GZS) on Wednesday.

For the last five years, Egypt has been the foremost strategic business partner of Slovenia in the Middle East, Egyptian Ambassador Ahmed Farouk said at the meeting.

Business cooperation between the two countries has improved during these years in the fields of direct investment and trade, which increased from EUR 24m in 2004 to EUR 85m in 2009. The countries expect the figure to grow to more than EUR 100m by the end of 2010.

Farouk highlighted that the business environment in Egypt has changed in the last ten years. The country implemented major legislative and institutional reforms. The value of direct foreign investment rose from US$2bn in 2004 to US$23bn in 2009.

Egypt marked 4.7% economic growth in 2009 despite the economic crisis and is projected to reach 6.5% economic growth in 2010. Ambassador also said that Egypt offers many business opportunities and that it is an important entering point to the Middle East.

The head of JAPTI, Igor Plestenjak, described the Slovenian business environment, noting that he believes that Slovenia has developed conditions conducive to foreign investment.

The head of the internationalisation department at JAPTI, Gorazd Justinek, informed the delegation of the opportunities Slovenia offers and highlighted its geo-strategic position, the quality infrastructure, cost-effective work force, easy access to regional markets and a high quality life.

The Chamber of Trade Crafts and Small Business (OZS) will host a meeting of small and medium sized Slovenian and Egyptian companies on Thusrday.

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