FEDCOC: UK vote to leave EU to have positive impact on Egypt

Secretary General of the Federation of Egyptian Chambers of Commerce (FEDCOC) Alaa Ezz asserted on Friday that the UK's decision to leave the European Union (EU) will have a positive impact on Egypt in the short run, citing the decline in the exchange rate of the pound Sterling against the Egyptian pound.

This will help increase exports and decrease imports, he said in statements to MENA.

It is difficult to speculate the impact of the UK's decision to leave the EU in the medium and long runs, he asserted.

Britain is one of five countries that have great investments in Egypt, and therefore several bilateral agreements can be signed between Egypt and Britain to boost economic and trade cooperation, he underlined.

Source ; MENA