Moussa had also said that he would push for Sri Lanka’s observer status in the OIC (Organisation of Oil Importing Countries).
The Arab League is particularly pleased with Sri Lanka’s stand on the Palestinian issue and Moussa had praised Sri Lanka’s open and committed support to the Palestinian cause, he said.
Later, the Egyptian Trade and Commerce Minister wanted Sri Lankan and Egyptian private sector businesses to take the lead in expanding trade between the two countries.
"Are position is clear. We will push our private sector to drive economic growth and add value to the economy," Rashid Mohammed Rashid, Minister of Trade and Commerce, said when he met Bogollagama and members of the Sri Lankan business delegation.
He said that Egypt will send a business delegation of its own to Sri Lanka in order to establish and strengthen private sector links between the two countries.
Bogollagama said that Egypt can consider investing in areas of Agriculture and fertilizer.
"We need greater production in agriculture and Egyptian companies can invest in generating high yield crops. Fertilizer is another area well worth investing in," he said, extending an invitation to set up fertilizer factories in Sri Lanka.
He also drew the Egyptian Minister’s attention to Sri Lanka’s US $600 million jewellery export industry.
Yesterday, the private sector took the initiative to sign a MoU to establish Sri Lanka-Egypt Joint Chamber Councils in the two countries.
While the Sri Lankan delegation had the FTAs with India and Pakistan and the GSP+ scheme to attract Egyptian investors with access to the sub continent and European markets, the Egyptians had the Qualified Industrial Zone Agreement with duty free access to the US market to ask for Sri Lankan investment.
"The private sector of Sri Lanka will have to establish contacts; they will need accessibility and will have to explore opportunities in Egypt. My ministry is prepared to do what ever it takes to facilitate the private sector of Sri Lanka in this regards,"Rashid said, adding that the Trade and Commerce Ministry would explore the opportunities of the two counties working together on fertilizer production.
Tea used to be one of the major exports to Egypt but had a decline in recent years, one reason being that Egypt being a member of the African Federation, had access to cheaper tea from Kenya.
A decision by the Egyptian government to cut taxes on food imports into Egypt has now paved the way for Ceylon Tea to make a comeback.
"We are aware of the fact that Sri Lanka had been losing its market share for tea in Egypt and our government is clear on competition and have removed all obstacles and Sri Lankan tea traders will have to work harder to regain their market share," Rashid said.
Bogollagama said that Sri Lanka will have to aggressively market and position Ceylon Tea in order to regain lost markets in Egypt.
The decision to cut import tariffs on food items, beneficial to Sri Lanka’s tea exports, was a move to halt the escalating food prices here in Egypt which have already sparked riots over the past few weeks with general strikes being called by doctors, lawyers and journalists, calling for the removal of the Egyptian government.
