(Financial Times-UK) William Wallis - Few Egyptians would have thought that economic salvation for one of their country's biggest job providers might lie in neighboring Israel. But last December's historic trade agreement with Egypt's erstwhile enemy appears to offer just that. Recently returned from his first trip to Tel Aviv, Fadel Marzouk, 31, the manager of Giza Spinning and Weaving, one of the country's largest privately owned textile manufacturers, says he is hiring 1,000 extra workers and building a new factory. At the Metco factory in Port Said, Egypt, Israeli Nachman Schwartz arrived from Israel three months ago to manage production that includes Marks and Spencer's machine-washable suits. Without the deal, factory owners are convinced Egypt's textile industry would be withering in the face of Asian competition.
2005-04-22 00:00:00Full ArticleBACK Visit the Daily Alert Archive