Egypt Independent

50 Turkish, Qatari investors to participate in Egypt Investment Forum



The Federation of Egyptian Chambers of Commerce (FEDCOC) said Monday that a delegation of 50 investors from Turkey and Qatar will participate in the third Egypt Investment Forum which will be held in Cairo between February 3 and 4, under the auspices of President Abdel-Fattah al-Sisi with the slogan “Investment in Egypt– Investment in the future.”

Egypt was among among Arab countries that severed ties with Qatar in June accusing it of support for Islamist militants and Iran. Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed diplomatic relations with Qatar in a coordinated move. Transport links shut down, triggering supply shortages for Qatar.

Egypt’s relations with Turkey also soured following the ouster of former President Mohamed Morsi. Turkey harbors several figures from the Egyptian designated Muslim Brotherhood group and has openly criticized Egypt’s court rulings against Brotherhood members.

The forum coincides with the meeting of the Board of Directors of the Union of Arab Chambers, which will participate in organizing the event, as well as meetings of the Saudi-UAE Business Council, and the Arab Joint Chambers from 12 countries to maximize participation to reach more than 700 business leaders and top Arab and foreign dignitaries.

Head of the FEDCOC Ahmed al-Wakil justified the Turkish and Qatari participation saying that the political leadership in Egypt distinguishes between the political dispute and the economic and investment relations.

Wakil said on Monday that the Qatari delegation will be headed by a member of the ruling family in Qatar, Sheikh Khalifa bin Jassim Al Thani, President of the Qatar Chamber of Commerce and Industry.

He pointed out that the session will witness the participation of prominent Egyptian, Arab and foreign dignitaries, foremost among them the Prime Minister, the Secretary General of the Arab League, the ministers of the economic group, the Chairman of the Suez Canal Authority, Arab and European ambassadors in Egypt, and more than 800 business figures, Arab and foreign investors.

Edited translation from Al-Masry Al-Youm