Sharm El Sheik, Egypt

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has signed a Memorandum of Understanding (MoU) with the Arab Republic of Egypt and the Federation of Egyptian Industries (FEI) to facilitate co-operation and promote trade and investment opportunities for Egyptian industries.

Under the agreement – the Framework Cooperation on Trade and Investment – the parties will provide professional representation and advocacy of Egyptian industries’ interests both locally and globally, as well as a regular exchange of essential information, knowledge, advisory and consultation services.

The cooperation under the MoU will also extend to training and capacity building opportunities to create awareness of ICIEC’s added value in risk mitigation and credit enhancement, organise joint seminars, conferences and workshops; and any other activities and programmes of mutual interest which the parties may jointly devise.

The MoU was signed by Oussama. Kaissi, CEO of ICIEC, and Mohamed Zaki El Sewedy, Chairman of the FEI.

Oussama Kaissi, CEO of ICIEC, said: “ICIEC is pleased to announce a new framework agreement with FEI which will foster increased trade and investment opportunities for Egyptian importers and exporters. This MoU is paramount to further the cooperation between ICIEC and Egyptian businesses going forward.”