The Assembly of the Union of Euro-Mediterranean Business Organizations elected Dr. Alaa Ezz president of the union for three years. The virtual meeting that was held in the Belgian capital Brussels yesterday to elect the new board of directors, which includes nine leaders of the regional federation representing EU and the Mediterranean Sea and the Black Sea.
Dr. Alaa Ezz said the union collects European regional associations that are interested in trade, industry, investment and services, with a gross domestic product of more than $ 25 trillion and a market of more than 715 million consumers. Including free trade areas for Egypt with the European Union within the framework of the European Partnership and the Arab Mediterranean countries within the framework of the Arab Facilitation Agreement and the Agadir Agreement.
He stressed the importance of the union as a tool to attract investments to North African countries, especially as the major companies sought to redistribute their production centers and supply chains after the Corona pandemic. It is an excellent opportunity for Egypt in the industry, especially in the Suez Canal axis and the new industrial zones manufacturing for export, especially to Africa after the launch of the African Continental Free Trade Area, or in services, especially in multimodal transport, tourism, or financial and health services. In contrast to the development of exports to the largest single market in the world without customs or quotas.
He pointed out the importance of developing economic relations with this agglomeration, which constitutes more than a third of Egypt's trade exchange, whether in goods or services. In addition to being Egypt's first partner in education, training, technology transfer, tourism, and development, whether through grants or soft loans provided to the private sector, which exceeds 22 billion euros.
He affirmed Egypt's leadership in foreign economic relations organizations, as Eng. Ibrahim Al-Arabi, President of the Federation of Chambers of Commerce, holds the presidency of the Union of African Chambers and the position of First Vice President of the Union of Islamic Chambers and Treasurer of the Union of Arab Chambers. Ahmed Al-Wakeel, head of the Alexandria Chamber heads the Federation of the Mediterranean Sea Chambers, and Tariq Tawfiq, undersecretary of the Federation of Industries, holds the position of First Vice President of the Union of Euro-Mediterranean Industries Federations; moreover to Egypt's presidency of many Arab qualitative federations.
He pointed out that the Euro-Mediterranean regional federations are implementing more than 40 regional projects that the European Union contributes to financing with grants exceeding 190 million euros that support trade, industry, agriculture, services, transportation, logistics, new and renewable energy, environment and training for employment, regional development, and the development of the participation of workers abroad in the development of their countries, as well as support and modernization of business organizations.
He indicated that the union will focus on developing trade exchange and attracting investments, developing human resources, transferring technology, developing supply chains, transportation and logistics, and creating local and regional sectoral groupings. Emphasis will also be on tripartite cooperation, between European Union and the Black Sea companies with their counterparts from the southern Mediterranean to develop joint exports to Africa and the countries of free trade agreements that exceed 3.1 billion consumers.
Source (Federation of Egyptian Chambers of Commerce, Edited)
