Egypt – Negative insurance impact of GATT
Wednesday, 01 17 2018, Category: Insurance and Reinsurance, Country: Egypt
Mr. Nazmy Hussein, chairman of the marine insurance committee at the Insurance Federation of Egypt said that 75% of international trade goes through the seas. Therefore, marine insurance plays a vital role in insuring the ships and the cargos. Insurance thus supports trade and the economy.
Moreover, he told “Youm 7” that the most important challenge is competition in addition to the GATT trade agreement. When imports increase more than exports, companies insure these imports through foreign insurers rather than Egyptian insurers.