Arab Finance: Egypt has inked a letter of intent with Austria in order to strengthen bilateral economic, commercial, and technical relations, the Egyptian cabinet announced on Thursday, April 27^th.

This came on the sidelines of the Egyptian-Austrian Business Forum, which was hosted by Cairo on Thursday.

The letter of intent was signed by Minister of International Cooperation Rania Al-Mashat and Austrian Deputy Minister of Foreign Affairs Peter Launsky-Tieffenthal.

Egyptian Prime Minister Mostafa Madbouly said that the letter of intent aims at boosting economic, commercial, and technical cooperation between both sides in a way that achieves mutual benefit.

For her part, Al-Mashat said that the letter of intent is expected to expand the scope of bilateral cooperation to include more areas of common interest between the two countries.

Furthermore, she added that a total of 180 Austrian Companies are operating in the Egyptian market in the fields of tourism, communications and information technology, industry, agriculture, and construction.

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