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New business association will help expand Egyptian - ASEAN economic relations

New business association will help expand Egyptian - ASEAN economic relations giving businesses access to over 700 million consumers in 11 countries.

The Association of Southeast Asian Nations – Egypt Business Association (AEBA) proudly announces its official launch at an event to be held in Cairo on the 21st of March 2012. The AEBA launch event will bring together some of the most prominent names in business, government and diplomacy from ASEAN and Egypt to unveil one of the newest and youngest business associations to be established since Egypt’s 2011 revolution and which aims at fostering stronger economic ties between Egypt and the 10 countries of ASEAN.

“On the private sector front, a number of business leaders have agreed to establish an ASEAN-Egypt Business Association or AEBA to promote networking and awareness of the business opportunities in ASEAN and Egypt. The AEBA has the strong support of the ASEAN Ambassadors in Cairo,” says H.E. TAN HUNG SENG AMBASSADOR OF SINGAPORE to EGYPT. “Since the idea’s inception, I have seen growing interest from the private sector on both sides and I am happy to see that its membership base has grown to include not only Egyptian and ASEAN companies but also some multinational corporations.”

AEBA’s launch aims at reinforcing the already strong multilateral relations between both regions and will open up opportunities for businesses to access markets of over 700 million consumers. The launch event which will be attended by a large delegation of ASEAN companies as well as local businesses leaders is a demonstration of the keen interest of the ASEAN region to support the recovery of Egypt’s economy post revolution and help build on decades of strong economic and diplomatic relations between the both regions.

The AEBA launch ceremony is supported by major corporations such as HSBC Bank, Rasmala Asset Management, Bavaria Auto Group, Info Fort, Egyptian International Shipping Agencies & Services, and Special Education for Advancement School (SEA) amongst many others.

“AEBA is not only about business, but it is also about cultural exchange and bridging ideas and the way we think so that we can establish long term sustainable relations between companies and individuals from Egypt and ASEAN. We are not shy to admit that the current levels of multilateral trade and investment between Egypt and ASEAN are still low, but with the support of the ASEAN and Egyptian governments and through the establishment of AEBA we are confident that we will see a significant change for the better in the very near future,” says Karim Helal, Chairman of AEBA.