Nazif: US mistaken to exclude Egypt from free trade zone

Speaking before a special session on Egypt at the World Economic Forum in Davos, Prime Minister, H.E. Dr. Ahmed Nazif highlighted the current strive to expand economic, political and social reform in Egypt, stressing that any approach to reform must satisfy the needs of societies, including integration into the world economy, preserving cultural identity and facilitates the flow of know how and capital as goods and services.

Nazif emphasized that achieving economic prosperity in the Middle East requires the utilization of resources with particular focus on job creation, raising living standards and increasing the participation of society, especially the young generation, in the management of their future.

Nazif highlighted the ongoing democratic activity in Egypt that aims to expand political participation in Egypt, ensure the rule of law, address gender issues, and reinforce women’s role in society. With regards to implementing a reform formula, Nazif stated that there is a need to balance the pace of economic, social and political reforms to achieve steady progress, and that there is no “one size fits all” reform formula which can be adopted by all.

Nazif also outlined Egypt’s economic plan, which aims to increase confidence, through enhancing transparency, eliminating administrative and tax barriers, providing incentives for investors, while capitalizing on a competitive human resources net worth, commenting that the clear message which Egypt delivered, during this year’s forum, regarding its reform agenda has helped Egypt win its bid to host next year’s Economic Forum.