Cairo – Mubasher: Egypt's minister of investment and international cooperation, Sahar Nasr, has agreed with the chairman and general manager of the Investment Development Authority of Lebanon (IDAL), Nabil Itani, to revive the idea of gathering Arab investment authorities in Cairo in May 2017.
The authorities will include Egypt's General Authority for Investment and Free zones (GAFI), Lebanon's IDAL, Kuwait-based Arab Investment & Export Credit Guarantee and the Dubai Investment Development Agency (Dubai FDI), according to a statement released Friday.
These talks came during Nasr's official visit to the Lebanese capital of Beirut. The two officials agreed on executing a previously-signed memorandum of understanding (MoU) between their respective countries in 2010, the statement showed.
They also agreed to create a small committee that will be responsible for discussing the methods for implementing the MoU's guidelines, which will be done at the upcoming eighth round of the of the Egyptian-Lebanese Joint Commission.
“The visit is to prepare for the eighth round of the Joint Commission to take place in Cairo next month, to be co-chaired by the prime ministers…and to meet with Lebanese businessmen for attracting further investments,” Nasr stated.
“We are looking forward to merging the initiatives of Egyptian [and] Lebanese businessmen into the Joint Commission’s activities,” she added, according to the statement.
