Egypt Independent

Trade volume between Egypt, UK up to US$2.4 bn in 2017: minister



 

Minister of Trade and Industry Amr Nassar announced on Wednesday that the trade volume between Egypt and the UK amounted to US $2 billion and 491 million in 2017, compared to $2 billion and 325 million in 2016, increasing by 7 percent.

During a meeting with the UK’s Ambassador to Egypt Jeffrey Adams and UK’s commercial attaché Jeffrey Donaldson, Nassar said that “Egyptian-British bilateral relations are historic and strategic in view of the mutual understanding and joint work between the two sides in all fields.”

Nassar also discussed prospects of economic cooperation between the two countries.

He clarified that the UK investments in Egypt totaled at $5 billion and 405 million in oil, gas, fertilizers, agriculture, cement, food stuff and financial consultants.

Nassar notified that the two countries possibly would establish joint projects in East and West African countries utilizing the free trade agreements signed with them.

Edited translation from Al-Masry Al-Youm