Egyptian President Hosni Mubarak’s upcoming visit to Italy next week aims at fostering joint cooperation in the fields of trade and investment, Prime Minister Atef Ebied was quoted as saying by ArabicNews.com Saturday.
He said that that Egypt and Italy will sign an economic agreement under which Egypt's outstanding debts to Italy would be transferred into non refundable grant for financing development projects in Egypt.
In 1999, both countries signed a protocol on technical cooperation in power and energy.
The protocol provides for the setting up of a joint technical expert committee which will meet alternatively every six months in Cairo and Rome, according to the Egyptian State Information Center.
Meanwhile, Ebied told the news service that Spanish Prime Minister Jose Maria Aznar will visit Cairo on Monday.
“His visit comes in the framework of developing Egyptian-European relations,” said Ebied.
He added that talks with Aznar will focus on Spain’s contribution in financing a number of development projects in Egypt, expanding trade exchange, maximizing the role of private sector.
Last month, Egypt and the European Union (EU) initialed a long negotiated economic association agreement, opening the way for a new era of bilateral relations.
The pact aims at stimulating political, trade and economic links between Cairo and the 12-member European bloc – Albawaba.com
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