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 IDA Chairman, Amr Assal stated, in the opening session of the Arab Federation of Engineering Industries' (AFEI) general assembly and board of directors on 8th of May 2008, that exports of engineering industries hit LE10.6 billion in 2007 and are expected to reach LE13.5 billion this year and targeted to hit LE16.5 billion next year, in order to provide over 160,000 job opportunities within the next 2 years. Industry is generally planned to achieve 8% growth rate, Assal stressed.
AFEI Chairman, Farid Hasanein, said that the Federation was the first one to approve the Arab Facilitation Agreement. Hasanein announced that the Federation will hold a meeting on 12th of May, 2008 with Prime Minister, Ahmed Nazif to present AFEI's activities and ideas to activate the specialized Arab federations' agreement; aiming at streamlining work procedures and setting up an Arab Consortium of engineering industries to buy Nasr Auto Co. and implement the Arab bulldozer project.
AFEI submitted a paper to the economic conference, that will be held in Kuwait, covering free transportation of goods and Arab citizens, permitting free entry of all means of transportation to the Arab countries, the need for a unified Arab currency, and preference of Arab products in the governmental bids, AFEI chairman elaborated.
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