Back to the complete issue
Thursday, 9 February 2017

Diplomacy and foreign trade roundup for 9 February 2017

Ties between Egypt and Saudi Arabia run deep and there is no need for mediation between the two countries, Foreign Minister Sameh Shoukry said in a press conference with Jordanian counterpart Ayman El Safadi, Al Shorouk reported. Shoukry is in Amman, Jordan for talks with Jordanian King Abdullah II and Prime Minister Hany Mulki on security issues, the Foreign Ministry said in a statement.

Egypt condemned Israel’s approval of a law legalizing Jewish settlements built on Palestinian land in the West Bank, the Times of Israel reported. The Egyptian Foreign Ministry called it “destructive to the possibility of reaching a two-state solution, enshrining the illegal status of settlements in contravention of laws, international conventions and UN Security Council resolutions.”

Egypt has eased restrictions at the Rafah border with Gaza in a sign of improved relations with Hamas, Reuters reports. Truckloads of goods have entered the enclave over the past weeks. Egypt has for years kept the Rafah border closed to goods and only opens up to people for three to five days every 40 days.

The joint Egyptian-Indian business council wants to double Indian investments in Egypt to USD 6 bn by the end of 2019 and wants to boost Egyptian exports to India this year, the council’s chairman Khaled Abul Makarem said, Al Borsa reports. Al Masry Al Youm has more.

Suez Canal Authority head Ahmed Darwish signed a memorandum of understanding with the Exclusive Economic Zone of Poland to establish a Polish industrial zone in the Suez Canal area, Al Shorouk reports.

The Egyptian-Romanian Business Forum meet in April for the first time in seven years, Al Ahram reports.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.