Mexican company invests $36M in two plants in Alexandria

CAIRO – 15 May 2018: A Mexican company called Polimeros Mexicanos is investing $36 million in two plants in Alexandria to produce plastic components, Juan Cepeda, director of ProMexico for the Middle East, told Egypt Today.

Cepeda clarified that this announcement took place during the visit of a Mexican mission to Egypt for the inauguration of the Mexico-Egypt Business Council.

The Mexico-Egypt Business Council was launched on Tuesday, May 8 to activate cooperation between Egypt and Mexico.

The council aims at deepening communication and partnership among companies in both countries, as well as discovering new cooperation opportunities, as it consists of companies that are already operating in both countries and others that are interested in starting their business in each.

The volume of trade exchange between Egypt and Mexico amounted to $123.4 million in 2017, in which Egypt’s exports to Mexico in the previous year reached $71 million, while imports from Mexico recorded around $52 million.

Mexico's main exports to Egypt include tubes, spare parts for railways, steel, zinc, iron and oxide, while Egypt's main exports to Mexico include urea, chemical fertilizers, ready-made garments and carpets.