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Sunday, 18 March 2018

Diplomacy + Foreign Trade on 18 March

Italian Foreign Minister Angelino Alfano praised the progress in Egypt and Italy’s cooperation in investigating the murder of Italian student Giulio Regeni during a meeting with Foreign Minister Sameh Shoukry on Thursday, according to a ministry statement. Shoukry reaffirmed Egypt’s commitment to finding those guilty for Regeni’s killing. The two ministers also discussed using economic cooperation as a vehicle for combating illegal migration and terrorism.

Egypt is expected to sign an agreement to join the Continental FreeTrade Zone (CFTZ) when the zone is launched at a summit in Kigali on Wednesday, Al Borsa reports. The zone, whose main objective is “to create a single continental market for goods and services,” will bring together 54 African countries. The mechanisms for the long-held dream of an Eurozone-style African agreement have yet to be revealed.

Speaking of trade liberalization agreements, we have what appears to be a list of known products Egypt stands to import and export under the Mercosur agreement, courtesy of Youm7. Egypt’s main exports to Mercosur countries under the agreement include products such as cotton, polyethylene, and phosphate fertilizer. Imports include iron ore, heifers, vehicle chassis and engines (nothing on the list on cars).

A delegation from Iraq’s Electricity Ministry has met with Elsewedy Electric head Ahmed Elsewedy in Cairo to discuss potential cooperation on power projects in Iraq, Al Shorouk reports. “The firm is looking to enter new markets which have strong demand for Egypt’s electrical goods,” said Elsewedy. The Iraqi delegation toured a number of Elsewedy’s facilities, said the newspaper. The meeting comes as Egypt prepares to take part in Iraq’s USD 88 bn reconstruction process.

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