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FTA deal ’will help Egyptian investors’

Gulf Daily News

FTA deal ’will help Egyptian investors’

14 December 2005

MANAMA: Deputy Chief Executive of the Economic Development Board (EDB) Dr Zakaria Hijris has urged the Egyptian private sector to benefit from the Free Trade Agreement (FTA) between Bahrain and the US.

In a statement, Dr Hijris said Egyptian investors can benefit from the facilities provided by the FTA, especially for the services sector, including offering services across the boarders, providing maintenance services and benefiting from the tax free gains given to the textile and garments exports.

During a meeting with a visiting delegation of Egyptian businessmen to the EDB, he said that Bahrain has regional and international trade and customs agreements that provide further incentives for Egyptian investors.

He also called on the Egyptian companies to benefit from the absence of a taxation system on income and transfer of capitals.

Dr Hijris explained the efforts exerted by the EDB towards promoting Bahrain and its investment opportunities, briefing the businessmen with the facilities the country provides to the investors.

He also highlighted the importance of the industrial sector, most importantly small and medium enterprises.

The delegation visited a number of public and private establishments in Bahrain in line with the mutual visits between Bahrain and Egypt to further boost the economic and trade relations between the two countries.