The European-Egyptian Competitiveness Network, a consortium led by the Industrial Modernisation Centre, has joined the Enterprise Europe Network with the aim of opening the doors for small and medium-sized enterprises (SMEs) to key international markets.
The Enterprise Europe Network, a European Union-funded business and innovation support network, reaches from China to Canada and from Iceland to Egypt.
The network is based in over 50 countries with links to 600 local organisations. It eases the way for companies to start trading abroad, find business or technology partners and access EU funding.
“Access to the Enterprise Europe Network provides tremendous opportunities for Egyptian entrepreneurs. The Network is a powerful tool for linking up SMEs across the world, for finding new markets, facilitating access to finance, training and technology transfers, to mention only a few,” said James Moran, the EU’s ambassador to Egypt, during the launch event on Sunday.
Moran emphasised that a thriving SME sector is an important source of economic growth and social development in any country.
“In today’s Egypt, SME development is a key priority area for both the government as well as the EU as its development partner,” he said.
“I am convinced the network´s services to the SME community in Egypt will soon have a positive impact on the business attractiveness of the Egyptian market and on the potential of Egyptian SMEs to work in partnership with European businesses,” said Peter Wragg, representative of the Directorate General for Enterprise and Industry for the European Commission.
Wragg also mentioned a number of value-added services that the network provides for European SMEs, saying that he expects network members to “become the first entry point for European SMEs with an interest in investing in Egypt”.