25/03/2006
Al-Alam Alyom Newspaper 2006/MARCH /25
The EU is Egypt’s first trade partner, yet European investment is not as high as expected. Some ascribe this to Europe’s efforts to help the newest EU members catch up with the older ones. Others believe this is due to the obstacles facing European investors in Egypt. According to several Egyptian businessmen, the investment and business climate in Egypt has already improved thanks to government initiatives, new laws and amendments. Yet, more remains to be done to attract European investors by, for example, easing bureaucratic measures and making government officials more capable of dealing with foreign businessmen. More obstacles, though, may be represented by Europe’s conditions to operate in other countries. Some of these conditions are not economic, and Egypt and other countries regard them as an act of interference in their internal affairs. There is no doubt, however, that the potentials are there to boost economic ties with the EU, and Egypt has been sticking agreements with European countries to pave the way for a more thriving period of cooperation. (Available in Arabic – German in PDF )
The EU is Egypt’s first trade partner, yet European investment is not as high as expected. Experts ascribe this to different causes, while there is some kind of consensus on the fact that economic and bureaucratic reforms are needed in Egypt to attract European investors by making things easier for them instead of scaring them away.