Economy

The Minister of Trade and Industry meets with the delegation of the Arab Corporation for Investment and Export Credit Guarantee to discuss ways to benefit from the Corporation's programs in the areas of promoting trade and investment

Fathi Al-Sayeh

Abdullah Al-Sabeeh: The Foundation supports economic integration efforts Achieving economic development in the Arab countries Mrs. Nevin Jameh, Minister of Trade and Industry held an extensive meeting with Mr. Abdullah Ahmed Al-Sabeeh, Director General of the Arab Corporation for Investment and Export Credit Guarantee, and his accompanying delegation reviewed the programs and services provided by the Corporation and its role in the development of trade exchange and joint investments between Arab countries at the regional and global levels, in the presence of Minister Plenipotentiary Trade Yahya Al-Wathiq Billah, Head of Trade Representation.

The Minister affirmed the ministry’s keenness to cooperate with all Arab economic entities in a way that contributes to benefiting from their services in the development of the national economy, noting that The importance of the Arab Investment and Export Credit Guarantee Corporation in encouraging investment flows to Arab countries 4310

Jameh pointed out the important role of the institution in supporting economic development efforts in Arab countries By providing insurance coverage against risks for investors, exporters and importers, in a way that contributes to enhancing the movement of intra-trade and joint investments between Arab countries and attracting more foreign direct investments to Arab markets.

The Minister noted the importance of acquainting the business community in Egypt, in particular with the export councils, with the services provided by the Corporation in the field of export guarantee, with the aim of benefiting from these services in ensuring the risks of Egyptian exports in global markets, especially in the markets of the countries of the African continent. On his part, Mr. Abdullah Ahmed Al-Sabeeh, Director General of the Arab Corporation for Investment and Export Credit Guarantee, stressed the important role of the Corporation in Encouraging the flow of capital to Arab countries and supporting their foreign trade by ensuring commercial and non-commercial risks for investments and exports, noting that the Corporation contributes to supporting international development efforts. Economic and social, as well as promoting Arab economic integration to achieve sustainable development in the Arab countries. Al-Sabeeh added that the institution is not for profit. It is based in the State of Kuwait and includes in its membership all Arab countries and 4 international financial institutions, noting that the institution’s delegation’s visit to Cairo aims to lay the infrastructure for future cooperation frameworks with the Egyptian private sector, where arrangements are being made to hold a workshop for Egyptian exporters this year with the aim of reviewing the institution’s services in the field of insurance Exports and expanding their benefit from these services in various export markets

The Director General of the Corporation pointed out the possibility for the Egyptian state to benefit from the services The insurance provided by the Corporation is to provide guarantees for foreign investors to invest in the Egyptian market in various development and production projects, noting that Egypt has benefited from the Corporation’s services and programs at a value of 1277 One million dollars in the last 5 years in the form of risk insurances for imports of a number of strategic commodities. 4310 )