Minister of Trade and Industry Tareq Qabil said a delegation representing 17 major Greek companies will pay a visit to Egypt in May to explore investment opportunities in Egypt especially in the Suez Canal Corridor region.

The minister's remarks were made following his meeting with Greek Ambassador in Cairo Michael Christos Diamessis. The meeting took up economic relations between the two countries and means of buttressing joint trade and investment in the coming phase.

The meeting was attended by head of the Egyptian side to the Egyptian-Greek Business Council Hani Barzi.

In a statement released on Sunday by the Ministry of Trade and Industry, Qabil said President Abdel Fattah El Sisi's recent visit to Athens paved the way for a new phase of economic relations, noting that Egypt has promising investment opportunities that could be seized by the Greek business sector, especially in the fields of renewable energy, food industries, agriculture, waste management and others.

The minister pointed out that the economic measures which have recently been taken by the government would propel establishment of more Greek investments and others in the Egyptian market. He cited the new investment law that secured a new package of incentives for specific industries. He also the new tax exemptions for investors.

The volume of trade exchange between Egypt and Greece stood at euro 1.3 billion in the past year, the minister said, adding that the Greek investments in Egypt are currently estimated at dlrs 155 million in around 160 projects in the sector of industry, services, tourism, IT, communication and agriculture.

Meanwhile, the Greek ambassador said Egypt and Greece are bound by deeply-rooted relations in all fields. He also voiced his country's support for Egypt in its fight against terrorism.

Source: MENA