Minister of Communications and Information Technology Dr. Tarek Kamel and Canada's Ambassador to Egypt Mr. Ferry de Kerckhove witnessed today the signing of a memorandum of understanding (MoU) between Egyptian Information Telecommunications, Electronics and Software Alliance (Eitesal) and Information Technology Association of Canada (ITAC).
The agreement aims at providing new mechanisms for joint cooperation between Egyptian and Canadian companies that are members in the two associations. Such collaboration will be achieved through boosting investment opportunities in information and communication technology (ICT).
Eitesal Chairman Eng. Tarek El Hemaily and ITAC Vice President Mr. Claude Lajeunesse signed the agreement.
Based on the agreement, Eitesal and ITAC will collaborate through the trade sector at the Canadian embassy in Cairo to offer the required consultancy and exchange expertise and technological activities. The two parties will also introduce business and investment opportunities in the two countries and carry out trade exchange activities worth $50 million over the coming three years.
In addition, the agreement entails providing support to promising investment opportunities in ICT in the two countries with as much as $100 million. The two parties will exchange visits and take part in conferences and promotional activities organized by each of them.
The agreement signing ceremony came as part of "Canada ICT Day" held under the auspices of the Canadian embassy in Cairo. The purpose of that special day was to promote and encourage investments in ICT between Egypt and Canada. Egypt is a regional ICT hub, while Canada has a similar status in North America.
The signed MoU is the first of a series of similar initiatives to be undertaken after Egypt and Canada had been classified as countries attracting ICT investments in their regions.
ITAC is the voice of the Canadian ICT industry. It represents more than 80% of Canadian ICT companies. ITAC is a prominent advocate for the expansion of Canada's innovative capacity and for stronger productivity across all sectors through the strategic use of technology.
