Egyptian-Mexican Business Council Holds 2nd Meeting

CAIRO, Nov. 12 (SEE)- The Egyptian-Mexican Business Council held its second meeting on Sunday to discuss the economic and cultural cooperation between the two countries.

Chairman of the Mexican Business Council and President of Cemex Egypt Carlos Gonzalez said that the council consists of corporations that operate in both countries to promote investments and cultural exchange. "The aim is providing the greatest possible dialogue for newcomers wishing to join the council, deepen communication with government bureaus, as well as finding new areas of common interest," he added.

Gonzalez noted that the volume of bilateral investments accounted for about $ 1.2 billion, of which $ 950 million are Mexican investments and $ 200 million are Egyptian. Investments include contracting, spare parts for factories machinery, cars, technology, cement, petroleum, and veterinary medicine.

The Council will focus during the coming period on discussing major factors attracting investments and increasing cultural and tourism exchange programmes between the two countries.

"Both Egypt and Mexico are two of the most important tourist destinations in the world," he said.

Delegations from Cemex, Pico engineering services, Elsewedy Electric, Ruhrpumpen, and the Mexican-Arab Chamber of Commerce, representative of the Ministry of Commerce Shaima Hidaya, along with Ambassador of Mexico to Egypt Jose Octavio Tripp were among the attendees.

Cemex is the second biggest building materials company worldwide with over 50,000 employees headquartered in San Pedro, Mexico.