January 16, 2019 – The Global Business Coalition is pleased to announce that the Federation of Egyptian Industries (FEI), Egypt’s premier business organization, has joined its unique, broad-based business network.

Established in 2012, the Global Business Coalition (formerly known as the B20 Coalition), operates as a worldwide platform of exchanges between national business communities, and aims at building consensus and developing common positions on issues critical for enterprises.

FEI joins the Global Business Coalition at a time when the Coalition is focusing on three priorities, Resource Efficiency, Trade and Digitalization and looking to lead instrumental dialogue with governments to promote policies for inclusive growth and competitiveness.

Global Business Coalition President Dieter Kempf said, “We are delighted to welcome the Federation of Egyptian Industries into the Global Business Coalition. A strong business community engaged in international cooperation is crucial for global governance. This is all the more important in times when the multilateral trade system is under threat.”

FEI would join GBC in promoting and advocating for global economic policies that foster future-oriented, sustainable growth and development.

“FEI is an honourable, influential and well-respected association. FEI’s accession to the GBC will increase our legitimacy and representativeness. The Global Business Coalition is truly going global,” added President Kempf.

Eng. Mohamed Zaki El-Sewedy, Chairman, Federation of Egyptian Industries (FEI) said, “It gives me a great pleasure to start the new year of 2019 by joining a strong alliance like the Global Business Coalition. Such partnerships have proven themselves to be one of the most powerful business tools for dealing with the fast-changing markets and technologies, which also should be understood as opportunities for leadership and a means to expand and exchange our ideas and businesses.”

“As FEI is now the first GBC member from Africa and the Arab World, we see it as one of the biggest opportunities that Egypt is a member of the WTO, and also part of several trade agreements, such as: EAA, COMESA, EFTA, GAFTA and MERCOSUR, which are considered as windows for GBC’s members to penetrate different markets. Concerning investment, Egypt has achieved notable steps in this regard, starting by issuing the new investment law, and the great national project of Suez Canal Economic Zone, which assures a new industrial and logistical era that capitalizes great investment opportunities for all the GBC member countries.” added Chairman El-Sewedy.

With the addition of FEI, the Global Business Coalition, keeps consolidating its mandate to represent businesses of all sizes and from all sectors across the globe.

The Federation of Egyptian Industries (FEI) is one of the country’s largest employers’ associations, with 20 industrial chambers as members, representing over 60,000 industrial enterprises out of which more than 90% belong to the private sector; accounting for more than 7 million workers and 20% of the national economy. Since its inception FEI has been carrying out its responsibilities towards defending and supporting Egyptian industries, firmly believing in industry as the pillar of the sustainable development of the country and as the tool to alleviate poverty and attain prosperity. Therefore, FEI effectively advocates the common interests of its members and defends their positions towards governmental and legislative bodies, as well as other local and international associations.

To download the communique – click here

Image: Copyright Maher Najm – Flickr.com