The Egyptian Travel Agents Association (ETAA) restored $4.750m from foreign companies that stopped paying their dues to the Egyptian companies in the last year. According to a financial statement by the association, the ETAA concluded settlement agreements with a number of foreign companies to pay the dues of Egyptian companies. The companies with which settlements were concluded included Japanese, Greek, Russian, and Ukrainian companies. Member of the ETAA Moody El-Shaer said that they paid significant efforts last year to settle the disputes between the Egyptian and foreign companies and restore the money for the former, which guarantees the resumption of business with these companies. He added that the recent bombings in Turkey will serve the interest of the tourism movement coming to Egypt, especially if Russian tourism trips to Egypt are resumed.

Source: Daily News Egypt January 12, 2017 08:19 UTC