Greek Community of Alexandria

Category: ECONOMY

News about economy

  • Egyptian FM optimistic over agreement on EEZ with Greece

    Egyptian FM optimistic over agreement on EEZ with Greece

    Egyptian Foreign Minister Sameh Shoukry in an interview with Efimerida Ton Syntakton newspaper on Saturday, on the sidelines of the 2nd Conference on Stability and Security in the Eastern Mediterranean held in Rhodes, stressed the need for cooperation between Greece and Egypt in the energy sector.

    He stressed that “it is important for all of us to broaden the fields of cooperation. And energy is a field of cooperation “, while on the demarcation of an EEZ between the two countries he noted that the talks continue and expressed the conviction that there will be an agreement.

    It is important,” he added, “to build our relationship, to create a climate of security, stability and peace in the area that will pave the way for better exploitation of our common resources and the comparative advantages of each country. Of course, these will create better opportunities for employment, economic progress, and revenues.”

    “We are facing the same or similar challenges, whether we are talking about politics or the economy, and if we work together we will get better conditions to meet our aspirations, but also to be protected from threats to peace and stability,” he stated.

    (www.tornosnews.gr)

  • Value of trade between Egypt, Greece drops to $1.3bn in 2016

    Value of trade between Egypt, Greece drops to $1.3bn in 2016

    Trade exchange between Egypt and Greece dropped 21.9% in 2016 to $1.3 billion from $1.7 billion in 2015, said chairman of the Greek side to the Egyptian-Greek business council Ioannis Yiotis.

    Yiotis was addressing the third forum of the council which was hosted by the Egyptian Businessmen Association on Wednesday.

    He asserted that both sides work on promoting economic relations, hailing ties as deeply-rooted at the political and economic levels.

    Also, Assistant Foreign Minister for European Affairs Basem Khalil lauded relations withGreece, saying that they reached an unprecedented stage in the past few years.

    He called on Egyptian and Greek businessmen to make use of the distinguished relations between the two countries.

    (www.sis.gov.eg)

  • Greek seal to expand to more types of commodities

    Greek seal to expand to more types of commodities

    The Athens Chamber of Small and Medium-Sized Industries (BEA) is planning to expand the use of the mark indicating products of Greek origin to non-food categories, such as apparel, furniture and toys.

    This effort started in the summer of 2015, but without any substantial response from the competent Ministry for the Economy and Development. Now BEA and the Hellenic Marketing Academy (ELAM) are trying to attract the government’s – and enterprises’ – attention through the first “Made in Greece” symposium on May 31, with the participation of government officials, entrepreneurs, academics and certification authority officials.

    The aim of creating a Greek brand is to consolidate consumer confidence in products certified as Greek and to avoid misleading phenomena. It is also aimed at protecting the interests of Greek producers from imitations and unfair competition and strengthening the competitiveness of Greek enterprises.

    To date, the certification has been awarded to 524 products belonging to the categories of dairy and alcoholic products, with olive oil products soon set to follow, as the necessary procedures have just been completed.

    (www.ekathimerini.com)

  • E-Khorda: An Opportunity for Egyptians to Make Gold from E-Waste

    E-Khorda: An Opportunity for Egyptians to Make Gold from E-Waste

    E-waste is one of the fastest growing wastes in the world. Communication and technological literacy is increasing, and access to electronics and electric appliances is rapidly growing, and consequently so is electronic waste. Material such as lead, cadmium, mercury, zinc, and many more, are all found in all electronic and electrical devices used daily in our lives, which turn into health and environmental hazards if not disposed of properly.

    E-Khorda, a project which forms part of the Sustainable Recycling Industries (SRI) Programme, is an electronic waste recycling entrepreneurship support program that aims to help build operational e-waste companies by end of 2017.

    Egypt is seen as a high potential market. According to a study conducted by the ‘Best of 2 Worlds Project’, between 2017 and 2025 up to nine tons of gold can be extracted from e-waste. “Other findings also revealed that up to 17.96 tons of silver can be extracted from end-of- live (EOL) mobile phones in 2025. An estimate of cumulative potential gold and silver in EOL desktop and notebook computers, is approximately 3.73 & 22.71 tons respectively in 2025”, stated Dr. Fathya Soliman, Senior Consultant of Centre for Environment and Development for the Arab Region and Europe (CEDARE).

    The program, E-Khorda, will offer 10-15 potential e-waste startups from Egypt 10 full day training sessions on business and technical topics such as business modeling, cash flow analysis and technology assessment. It will also provide 60 hours of individual technical consultancy sessions, and five business sessions related to finance, marketing and pitching through Startup Reactor Accelerator.

    The top three performing startups will be identified through a panel of experts and will continue to receive full acceleration benefits of Startup Reactor Accelerator by Innoventures. This includes office space, training, mentoring, marketing benefits, legal registration and investment opportunities for an additional six months. Successful startups will also get a chance to pitch in the event during the Global Entrepreneurship Week in November.

    The training and technical consultations will be provided by Chemonics Egypt Consultants and Cleantech Arabia in association with the Ministry of Trade and Industry. Meanwhile, the investment matching and workshops are provided by Innoventures’ Startup Reactor.

    Those who wish to take the opportunity to build a business that makes a difference should complete the online application before March 5.

    Cairo witnessed the launch of the SRI Project in July in Egypt as the result of the agreement signed between the Egyptian Government, represented by the MCIT, and the Swiss Government, represented by the Swiss Embassy in Cairo.

    The main goal of the project is to support the sustainable integration and participation of small and medium enterprises in the recycling of e-waste in Egypt. Non-hazardous resourceful management of secondary non-renewable resources will be optimized, and local capacity of formal and informal sectors will be improved, ensuring sustainable e-waste recycling and job creation.

    (egyptianstreets.com)