Lieutenant-General Abdel Moneim Al-Terras, Chairman  of the Arab Organization for Industrialization, received today Mrs. Daniela Fiziga, the Bulgarian Minister of Economy and the accompanying delegation, in the presence of the Bulgarian Ambassador in Cairo, Mr. Diane Angelov Katrashev, where the Minister was keen during her visit to Cairo to visit the presidency of the Arab Organization for Industrialization.

In this context, Lieutenant-General Abdel Moneim Al-Terras, head of the Arab Organization for Industrialization, stressed the importance of implementing the directives of President Abdel Fattah El-Sisi to increase investment opportunities in Egypt and localize technology in cooperation with global expertise, pointing to the importance of investing in the depth and strength of relations between Cairo and Bulgaria through The Egyptian-Bulgarian Committee, and how to benefit from it to open new horizons for joint cooperation in the various fields of industrialization according to the latest systems of the Fourth Industrial Revolution.

The meeting witnessed a presentation of the Arab Industrialization vision regarding deepening local manufacturing, localizing technology and training human cadres in cooperation with major Bulgarian companies in many different fields of industry, including the various defense, security and civil industries.

Within the framework of the talks, a cooperation protocol was signed with BIEM and

VMZ

 The Bulgarian company in the field of defense industries, and inviting the Bulgarian company to form a joint technical team to visit the units of the Arab Organization for Industrialization to see the possibilities available therein on the ground and to identify aspects of the proposed cooperation between the two sides in the various fields of manufacturing.

During her inspection of the exhibition of the products of the Arab Organization for Industrialization, Ms. Daniela Fiziga expressed the aspiration of the largest Bulgarian companies to open new horizons for cooperation with the Arab Organization for Industrialization, that important industrial entity in Egypt, the African and Arab region, praising the development witnessed by the Arab Organization for Industrialization at various levels and the remarkable activity in Supporting the deepening of local industrialization in the various national and development projects that Egypt is witnessing.

She added that there are important opportunities to enhance trade cooperation between Egypt and Bulgaria, especially since the two countries enjoy distinct and promising economic potentials, pointing out that cooperation with Arab Industrialization comes within the framework of transferring and settling technology and training to achieve a long-term strategic partnership.

In this regard, the "Terrace" clarified that the Arab Industrialization is looking forward to strengthening joint cooperation with major Bulgarian companies, to deepen local manufacturing and increase the added value in the local industry, pointing to the discussion of increasing competitive opportunities to market joint production in the Egyptian, African and Arab market, as well as the possibility of exporting these products to other countries. African countries benefit from trade agreements and free trade zones such as "COMESA", which are promising markets for all products planned to be manufactured in Egypt, and which can be considered a starting point for Africa and the surrounding countries to market products to them.

In turn, Katrashev praised the authority's manufacturing and technical capabilities and the richness and diversity of its defense and civil products, which encourages major Bulgarian companies to forge partnerships with Arab Industrialization to deepen industrialization in areas of common interest, pointing to the interest of senior Bulgarian officials in attending the Egypt International Defense and Security Exhibition EDEX 2021. In its second session in Cairo, it held joint talks with Arab Industrialization to enhance aspects of cooperation in the field of defense industries.