26/02/2003
Al-Wafd Newspaper 2003/FEBRUARY /26
The Free Arab Trade Agreement is a “fad” according to the Secretary General of the Arab Investors Union. ( Available in Arabic – German in PDF )
Ambassador Gamal Bajoumy has criticized the Free Arab Trade Agreements with several countries as a “fad,” expressing that the majority signed by Egypt lack in the fulfillment of the conditions and regulations. Furthermore, he indicated the need for viewing the Partnership agreement through positives means rather than concentrating on the negatives, in addition to the necessity of support. Moreover, there have been talks amongst businessmen for complete freedom of the Egyptian pound, thus magnifying the independence of the Central Bank. Dr. Nader Riad expressed his views in regards to these talks through articulating the necessity to follow the exchange rate policies, in addition to the need to raise the proceeds of foreign currencies.