Minister: Suez Canal Corridor Project – Top Priority (Egypt)

Trade and Industry Minister Mounir Fakhri Abdel-Nour said that the Suez Canal corridor development project and the establishment of enterprises with high economic values in the area has been a main part in the government’s platform and priority for the coming phase.

The government plans to turn the Suez Canal area into the largest industrial logistic center in the region, Abdel-Nour told a seminar at the Egyptian Lebanese Businessmen Friendship Association yesterday.

The development of the eastern side of Port Said Port, one of the vital ports worldwide, is being completed, he said.

Cairo is currently hosting Egyptian-Lebanese meetings held at the level of representatives of the two countries’ agriculture and trade ministries, he noted. The volume of trade exchange between Egypt and Lebanon witnessed an increase in the past two years, hitting $1 billion in 2012, he said.

Lebanon is Egypt’s 14th largest investor with a total of $3.6 billion investments in 1,134 projects in several industrial, trade and service sectors, he added.

[mappress]

Press Release, September 24, 2013