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Ambassador urges SA, Egyptian businesses to increase trade, investment

19th February 2013

By: Creamer Media Reporter

  

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Egyptian Ambassador to South Africa Sherif Naguib urged the South African and Egyptian business communities to take advantage of the cordial bilateral relations that existed between the two countries to consider working together to increase trade and investment between the two countries.

“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,” he said.

Naguib added that Egyptian President Mohamed Morsi had accepted President Jacob Zuma’s invitation to attend the Brazil, Russia, India, China and South Africa (Brics) Leaders of Africa Dialogue to be held in South Africa in March.

“President Morsi hopes the Brics forum will serve as a springboard for more Egyptian and South African trade and investment missions,” he commented.

Meanwhile, South Africa’s Department of Trade and Industry director responsible for North Africa in the International Trade and Economic Development division, Portia Poulsen, said the volume of trade between South Africa and Egypt was not reflective of the true potential that existed between the two countries.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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