Italy will establish technological centers in Egypt through new assistance projects soon, the Italian ambassador to Cairo Giampaolo Cantini said over his speech at the inaugural session at the second Italian Egyptian economic forum held on Wednesday
The ambassador added that the embassy is negotiating with the Ministry of Investment and International cooperation (MIIC) over details of new developmental cooperation.
“This forum is a special occasion for Egypt and Italy to boost the joint business relations particularly that private sector plays a key role in developing Egypt’s economy,” the ambassador mentioned, noting that Italy is one of main trade partners for Egypt with annual trade exchange worth €5bn.
The ambassador said that his country had historical economic cooperation with Egypt especially in the sectors of banking, oil and, gas, noting, “Italy has a key role in Zohr project which builds a strategic future for the Egyptian economy.”
The ambassador asserted his country’s good experience in the technological sectors through its private sector high quality manufacturing, noting that he realizes the importance of Africa free trade agreement that will boost the exporting relations between the African countries.
“We see potential in the technological sectors and I will invite the Italian companies to mull investing in several sectors in Egypt through the next couple of days,” the ambassador mentioned, noting that Egypt is traditionally a hub in the Middle East region.
Egypt is a country with successful economic reforms, the GDP growth is high, the inflation is under control and the country is implementing important infrastructure projects, the ambassador said, adding,“There are very important qualification and skills at the level of industrial base and opportunities in the sector of waste management.”