Egyptian official due in Kuwait, other GCC countries to talk on financial crisis

 CAIRO, Oct 19 (KUNA) -- Egyptian Minister of Investment Mahmoud Mohieldin said he would commence a tour of three Gulf Cooperation Council (GCC) members with a visit to Kuwait on Wednesday.
"During my planned meeting with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, I'll convey a message from President Hosni Mubarak on the bilateral ties," Egypt's semi-official daily Al-Ahram quoted on Sunday Mohieldin as saying.
"I'll also visit the Kingdom of Bahrain and the Sultanate of Oman as part of the constant consultations with the sisterly Arab countries," he said.
"I'll convey similar messages from Mubarak to the leaders of Bahrain and Oman," Mohieldin added.
His talks with the economic, finance and investment leaders of the three GCC countries are expected to focus on the impacts of the global financial meltdown on their countries, according to the report.
The minister noted that the meetings with the economic, finance and investment leaders would provide an ample opportunity for bolstering up the bilateral ties and taping the promising investment potentials of the three GCC countries.
"Kuwait is one of the countries that have huge investments in Egypt," Mohieldin pointed out.
A large delegation including representatives of the ministries of investment, petroleum, tourism, agriculture and foreign trade and industry as well as representatives of business sector would accompany the minister during the tour.
"Egyptian Minister of Foreign Trade and Industry Rachid Mohamed Rachid will start a tour of other Arab countries in synchronization with my visit to the three GCC members," Mohieldin disclosed.
"The talks with leaders of the Arab countries fall in the framework of the national and regional concerted efforts aimed to enhance the economic ties and ward off the impacts of the global financial crisis.
"The world's economic growth rate is unlikely to exceed three percent under the current crisis," the minister said, citing economic forecasts.
"Egypt targets USD ten billion of foreign investments in the current fiscal year. The target needs doubled efforts to be achieved," he added. (end) rg.gb KUNA 191134 Oct 08NNNN