25/12/2004
Al-Masry Al-Youm Newspaper 2004/DECEMBER /25
Economists and investors believe that Egypt can maximize its benefits from its partnership agreement with the EU by modernizing its industry and, consequently, boosting its exports. Some, though, believe that Egypt can only compete with EU products in the agricultural sector. And to add fuel to the fire, the entry of ten new members states (from the former Soviet bloc) into the EU may seriously reduce the chances of Egypt’s exports to find their way into the EU market. (Available in Arabic – German in PDF )
Economists and investors believe that Egypt can maximize its benefits from its partnership agreement with the EU by modernizing its industry and, consequently, boosting its exports. Egypt’s exports to the EU have actually been already on the rise since the agreement was signed six months ago, while imports from the EU have been falling. This has reduced Egypt’s deficit in the trade balance. Yet, Dr. Riad, for example, believes more should be done to boost Egypt’s imports without making the same mistakes of the past. Other economists, though, believe Egypt can only compete with EU products in the agricultural sector. At the same time, the entry of ten new members states (from the former Soviet bloc) into the EU may seriously reduce the chances of Egypt’s exports to find their way into the EU market.