adminand investment. Sherif Naguib was speaking at the ongoing seminar on trade and investment opportunities between South Africa and Egypt.
Held in Kempton Park east of Johannesburg, the seminar centres on agriculture and agro-processing, construction, chemical and allied industries and investment, information communication technology, telecommunications and tourism.
“South Africa and Egypt have created a conducive political environment for business to operate in. The onus rests with businesspeople from our countries to explore the multiple business opportunities that exist by establishing joint ventures and investing in various sectors of our respective economies,” said Ambassador Naguib.
The director responsible for North Africa in the International Trade and Economic Development Division of the South Africa Department of Trade and Industry, Portia Poulsen, said the volume of trade taking place between South Africa and Egypt was currently not reflective of the true potential that exists between the two countries. She said the seminar also formed part of efforts by the two countries to facilitate intra-Africa trade, by ensuring that business communities between the two partnering countries acquired insight into the other’s market.
The seminar is a result of a number of events following the state visit led by president Zuma to Egypt in 2010, which provided South African business people in various sectors with a platform to meet their Egyptian counterparts.
It is also an implementation process of the Memorandum of Understanding on Economic Cooperation signed with Egypt in 2009.
Meanwhile, Egyptian president Mohamed Morsi has accepted president Zuma’s invitation to the Brics Leaders of Africa Dialogue that will be taking place in South Africa next month. — CAJ News.
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