Moran: EU committed to supporting Egyptian economy

EU Ambassador in Cairo James Moran has reiterated the organization's commitment to continue support for the Egyptian economy, in an attempt to create a favorable economic climate restoring confidence in investment and establishing economic stability.

“It is necessary to remove all obstacles and challenges that face the strengthening of economic relations between Egypt and the European Union,” he stressed.

Moran also stressed the need to double up trade and investments between Egypt and the European Union, adding that the EU is keen to inject more investments in the Egyptian market in order to create more job opportunities.

The statements came during a meeting with Minister of Trade and Industry Mounir Fakhri Abdel Nour, who said the government intends to restore the confidence of foreign investors.

Moran's comments come a week after an EU meeting that banned the export of weapons to Egypt, after bloody violence erupted between security and protesters demanding the return of deposed President Mohamed Morsy, in which hundreds were killed .

Edited translation from Al-Masry Al-Youm

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