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Italy's Confagricoltura eyes Egyptian market

15 febbraio 2018 | 11.07
LETTURA: 2 minuti

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(Photo AdnKronos)

Italy's agricultural producers are eager to strengthen their ties with Egypt and are eyeing investment opportunities and joint ventures there, the Confagricoltura association said during a visit to Rome this week by Egyptian agriculture minister Abdel Moneim El Banna.

"We confirm our openness to trade with Egypt and our growing willingness to form commercial partnerships," Confagricoltura stated.

Confagricoltura was responding to an invitation to Italian businesses to invest in Egypt made by al-Banna during a visit to the headquarters in Rome of Adnkronos-GMC media group on Wednesday.

Italian agricultural producers can build on existing relations with Egyptian businesses that have developed continuously over time, according to Confagricoltura.

"We are especially interested in cooperation that can lead to the creation of joint cultivation and production ventures that benefit both partners, giving Egyptian businesses access to the European market and opening the African market to Italian entrepreneurs," said Confagricoltura.

The Italian government is taking part in a foreign investment plan created by the European Union and non-government organisations that offers "interesting opportunities" to invest in countries in subequatorial Africa and southern Mediterranean nations including Egypt, Confagricoltura said.

The plan earmarks funds for a form of social and economic partnership aimed at curbing illegal immigration from these countries, Confindustria noted.

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