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EGYPT: ITALIAN BUSINESS AND PM PROMOTE INVESTMENT LINK

Aki - April 9, 2008 Italy's prime minister Romano Prodi is leading a delegation of some of the country's biggest business leaders on a visit to Egypt. Three hundred entrepreneurs, 17 industrial associations and nine banking groups are to attend the business and investment conference organised by business organisations including the Italian Institute of Foreign Trade,(ICE) the Italian Banking Association (ABI) and Confindustria. Prodi and the Italian minister for international trade, Emma Bonino, were due to arrive in Cairo on Tuesday. Luca Cordero di Montezemolo, president of Italy's private employers' organisation Confindustria, will also attend the conference. Energy giant ENI, the Intesa Sanpaolo Bank, vehicle producers Fiat and Piaggio are among the Italian corporations represented at the business conference. Leading entrepreneurs were also expected to meet Egyptian president Hosni Mubarak during their visit. "Egypt represents a market with great opportunities for growth, not only in commercial terms but above all for industrial partnerships," Confindustria said in a statement. "In this phase of sustained economic growth Egypt is particularly aware of the 'Made in Italy' brand for which there are many opportunities, already seen in many sectors, like mechanical production, food production, textiles and furniture, for which the Egyptian government is already allocating important resources." An economic forum will be held in Cairo on 9 April to look at current political and economic themes affecting bilateral relations between Italy and Egypt. In 2007 trade between Egypt and Italy totalled four billion euros and Italian exports to Egypt totalled more than 2.1 billion euros - with a strong 39.4 percent increase in the past two years.





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