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Saturday, September 8, 2012

Egypt’s President is planning to visit Europe soon

Mohamed Morsy, Egyptian President

The official spokesperson of Egypt’s President Yasser Ali said in his interview to the state-run news agency MENA that Mohamed Morsy is planning to visit European Belgium and Italy next week in order to reinvigorate the relationships between Egypt and the countries of European Union.

One of the aims of this visit is also the attempt to attract foreign investments needed now for the restoring and developing of Egyptian economy which has significantly deteriorated during last time. Egyptian authorities are keen to build the balanced foreign policy and to cooperate with European countries. Morsy’s visit to Belgium and Italy has also to ensure EU countries that Egyptian authorities will protect and facilitate the investments.

Yasser Ali also stated that this visit demonstrates the steps of Mohamed Morsy and his government to implement his political program aiming at development of the country with all its segments, such as economical, social and political stability.

Morsy’s upcoming visit to Europe is a part of his foreign and economic policy and shows his determination to boost Egypt’s economy. It’s worth mentioning, that Mohamed Morsy visited recently China and ensured Egypt Chinese financial support and cooperation. Special technical team of IMF (International Monetary Fund) is also expected to arrive in Cairo in September to study the issue of Egyptian economic situation and the program of reforms in the framework of the negotiations between Egypt and IMF over the $ 4.8 billion aid for restoring Egyptian suffering economy. Egypt is also granted financial support from the Gulf countries, such as Qatar. Qatar’s foreign minister stated that his country is planning to invest nearly $18 billion in Egyptian economy (in its energy, tourism and other sector of the country’s economy).