The ICSID has turned down a lawsuit filed by Spanish companies Cementos La Union and Aridos Jativa against the Egyptian State, demanding a compensation of more than €236 million.
MERCOSUR agreement supports state’s current trend of increasing exports, opening of new markets, says Minister of Trade and Industry Nevine Gamea.
Egypt will soon sign a free trade agreement with the UK following the latter’s exit from the EU, commonly known as Brexit, according to Minister of Trade and Industry Nevine Gamea.
A number of chapters have already been drafted; some others are nearing completion; the remaining chapters are still under expert evaluation.
The Eurasian Economic Commission continues to negotiate partnerships with Egypt, Israel and India, said EAEU trade official.
In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank’s ICSID in 2018.
Naturgy has agreed with Eni and Egypt to end their dispute over Unión Fenosa (UFG), in which the Spanish and Italian firms own 50% each.
Tension between Egypt and Turkey surfaced again as the industry committee at the Egyptian parliament called for annulling the free trade agreement between the two countries, saying it “harms local products”.
The Eurasian Economic Union (EAEU) and Egypt may sign a free trade zone agreement by mid-2020, Egypt’s Minister of Trade and Industry said.
Australian company planned was to mine tantulum, but seventeen years later, the company is suing the Egyptian government for potentially hundreds of millions of dollars after the military regime blocked plans.
Egypt and the United States are seeking ways to promote a greater reciprocal market access for agricultural and industrial goods following the latest talks of the Trade and Investment Framework Agreement .
The African Continental Free Trade Agreement (AfCFTA) is very important for Chinese companies in Africa, particularly in Egypt, an Egyptian economic expert said.
The talks took up the issues of customs cooperation, trade movement and rules of origin along with competition and prevention of monopoly.
British Petroceltic announced filing an arbitration case against the Egyptian General Petroleum Corporation (EGPC) at the World Bank Group’s ICSID.
Russia expects to make free trade zones agreement with Israel, Singapore, India, Egypt and Iran in coming future, First Deputy Minister of Industry Sergey Tsyb said.
The talks focused on the main provisions of the Agreement and set the schedule of the further work.
Agreement to create a continuous discussion on issues of bilateral, international economic cooperation of common concern.
Indonesia and Egypt will sign a preferential trade agreement and are negotiating a free trade agreement.
The Spanish group will seek an agreement with the country to recover normality at the Damietta plant.
Veolia has finally lost its claim against Egypt over a waste management contract dispute in which they claimed compensation for an increase in the minimum wage under a new labour law.