MP Al-Saloum delivers an “opening speech” at one of the largest economic conferences in Egypt and the region

Under the patronage of the Egyptian Prime Minister and in the presence of 8 ministers and senior officials

Emphasizing the depth of Bahraini-Egyptian relations.. and strong investment opportunities with the Gulf industrially and technically

My advice to our brothers in Egypt and all Arab countries: eliminate "routine" and "currency fluctuations" .. and facilitate inter-Arab customs

The Arab Union for Trade Facilitation is concerned with unifying specifications and standards.. and removing obstacles to customs and export between Arabs

His Excellency MP Ahmed Sabah Al-Saloum, Chairman of the Arab Union for Trade Facilitation and Risk Management, Vice President of the Asian Parliament, participated with an opening speech in the 9th Economic Conference of the Egyptian "Akhbar Al-Youm" Foundation, under the patronage of His Excellency the Egyptian Prime Minister Dr. Mostafa Madbouly, and attended by an elite group of ministers, ambassadors, representatives, senior officials and businessmen.

The conference was held yesterday, Saturday, January 28, under the slogan "Industry and Investment.. Start, Take Off" and included 4 specialized sessions to discuss Egyptian and regional investment issues. The conference and its sessions were attended by the Ministers of Finance, Agriculture, Business Sector, Trade and Industry, Supply and Internal Trade, Endowments, Youth and Sports.. in addition to a large number of officials.

In his speech at the conference, MP Al-Saloum stressed the depth of relations between the Kingdom of Bahrain and the sisterly Arab Republic of Egypt, which reflects the extent of love and brotherhood between the political leadership in the two countries, especially during the reign of His Majesty King Hamad bin Isa Al Khalifa, may God protect him and preserve him, and His Excellency the Egyptian President Abdel Fattah El-Sisi, pointing out that Egypt is the land of Egypt and the heart of Arabism, and all of us as Arabs are extremely happy with every progress or success achieved by Egypt in all areas and sectors... and the economic sector in particular, because Egypt's success is a success for the Arabs and Egypt's progress is progress for the entire nation... and the prosperity and security of the Egyptian people is a guarantee for the national security of the entire Arab world. Real opportunities for Arab cooperation

Al-Saloum continued in his speech at the conference, saying, “From this standpoint and from the core of the Arab Union’s specialization in facilitating trade and its basic tasks in raising inter-Arab trade exchange, I can say that there are promising opportunities for mutual investment in many sectors between Egypt and all Arab countries, but due to my bias towards the small and medium enterprises sector, I see that there is great interest worldwide in this sector, which holds broad prospects for growth and development for small companies in several sectors such as light and manufacturing industries, the restaurant and cafe sector, the entertainment industry, tourism, technology, the pharmaceutical sector, the petrochemical industry, and others. I know very well the extent of the interest that Egypt, under the leadership of His Excellency President Abdel Fattah El-Sisi, gives to small companies, and the interest in the Gulf countries and a number of Arab countries is also to the same extent because the wise leadership in our country is fully aware of the importance of this sector and its vital role in developing the economy, especially industrial and technology companies.”

3 Tips for Investors

He added: "But my sincere and heartfelt advice to my family and brothers in Egypt, if we really want to move forward seriously, is to have clarity and stability at the legal and legislative level with regard to investment. I believe that most of the attendees, investors, industrialists and traders, know full well that the investor is anxious by nature and fears radical changes and fluctuations in decisions that affect his investment accounts. The investor in our current world has become a desirable commodity that everyone competes for, an important source of money that is directly pumped into the country's economy and revives it, and everyone is looking for him and competing for him. The investor means factories, companies, job opportunities, opening homes for workers and improving the standard of living of citizens. The investor is the "gold medal" that everyone is racing to seize."

Secondly, as a businessman and a member of the Board of Directors of the Bahrain Chamber of Commerce, we must all strive, each according to his position, to remove any negative image of "routine", especially in terms of dealing with employees in the government apparatus, which is a problem not only in Egypt but in many Arab countries. Routine is an "epidemic" that destroys everything and eliminates ambition and creative ideas, and we are in dire need of creative thinking to start and take off.

Thirdly, I see this matter as extremely important, that we talk frankly about the problems and obstacles with each other so that we can find solutions and actually move in the right direction. I believe that there are many delegations visiting Arab countries on the economic level, and we hope to see a real translation on the ground of these meetings, to see productive Arab projects and to see Arab goods in every store and in all our Arab markets, and even foreign ones as well.

Al-Saloum said, addressing the audience, “With all my heart, I hope that any ambiguity regarding the difficulty of investing in Egypt will be removed and that the Egyptian currency will stabilize in a way that allows investments to flow without worry. I know very well that important steps have been taken in Egypt recently, and there is a clear correction of the path and great interest from the wise leadership in Cairo. There are also opportunities in various economic sectors such as industry, tourism, real estate, and others. I also realize that the Egyptian Stock Exchange has great opportunities for investment, but all parties must speak with transparency and clarity to remove any obstacles, find solutions, and attract investments to the Arab world in general, which is at the heart of Arab national security.” Defining the objectives of the Union

He continued, "I am pleased to introduce the Arab Union for Trade Facilitation and Risk Management, which I am honored to chair. It is the latest Arab union that has been licensed to operate under the umbrella of the Arab Economic Unity Council. Preparations are currently underway to launch its work through a major regional conference that will discuss the most important issues for which it was established, most notably facilitating the movement of inter-trade, customs procedures, unifying specifications and standards for various goods, and eliminating monopoly and black market practices.

In a hurry, I can summarize for the honorable attendees the work of the Union in 3 main axes:

The first axis: Facilitating and supporting legitimate trade outlets and combating various forms of illicit trade, through developing and coordinating the areas of work of the Union members, and cooperating with the relevant authorities to address the technical and commercial problems and risks that arise from legitimate and illicit trade.

The second axis: It is based on cooperation, coordination and building strategic partnerships with the public and private sectors to increase the level of security and facilitate trade operations, in a way that enhances trade safety, overcomes customs and non-customs restrictions and controls illegal practices in trade.

The third axis: Developing training programs and holding seminars and conferences on frameworks and standards for trade security and facilitation, as well as cooperating with official bodies to support programs that would reduce harmful practices on trade, for example, but not limited to: smuggling, tax evasion, and breach of competition conditions, as they are all issues that threaten the growth of national economies.

At the end of his speech, Representative Al-Saloum said, "I may seize this good opportunity and the honorable gathering to greet those in charge of this conference and the distinguished "Akhbar Al-Youm" institution and its usual interest in Egyptian and Arab economic affairs, extending special thanks to Mr. Ahmed Galal, Chairman of the Board of Directors of Akhbar Al-Youm, and Mr. Khaled Miri, Editor-in-Chief of Akhbar."