ASEAN, Egypt bolster trade ties
Ambassadors from ASEAN member countries were brought together at a workshop in Cairo on June 4 to exchange economic and investment cooperation with Egypt.
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Addressing the event, Vietnamese Ambassador to Egypt Do Hoang Long highlighted the establishment of the ASEAN Community in late 2015 as endless effort of member states over the past five decades.
The workshop creates a good chance for businesses from ASEAN and Egypt to cement their trade ties, he added.
Participants exchanged information on the potential, advantages, and cooperation opportunities between the two sides, especially in economics, trade, investment, science-technology and culture.
They suggested ASEAN and Egypt reach an agreement on the avoidance of double taxation to encourage bilateral investment and trade promotion.
With a gross domestic product (GDP) of nearly US$3 trillion and a total population of 625 million, ASEAN is the third biggest economy in Asia and seventh in the world.
The bloc is expected to record an average economic growth of 5.4% for 2014-2018.
As a dynamic economic community, ASEAN is offering numerous opportunities for international businesses, including those from Egypt and the Middle East-North Africa region.
