Trade exchange bet. Egypt, Oman records $500M

CAIRO – 8 September 2021: Trade exchange between Egypt and the Sultanate of Oman reached about $500 million, according to Minister of Trade, Nevine Gamea.

Gamea pointed out Wednesday that Omani investments in the Egyptian market amount to $77.5 million, distributed among 92 companies in the fields of industry, tourism, construction and agriculture.

The minister stressed the need to intensify efforts between Egypt and the Sultanate of Oman at the level of governments and business communities to advance the rates of inter-trade and joint investments between the two countries to rise to the level of relations between the two countries.

This came during the minister's meeting with members of the Egyptian-Omani Business Council from both sides, following the council's first meeting after its re-formation.

"While Egyptian investments in the Omani market amount to $680 million, distributed among 142 companies specialized in the fields of infrastructure, road projects and real estate investment,” She added.

Gamea indicated the ministry's keenness to provide all aspects of support to Omani companies operating in the Egyptian market and to overcome obstacles facing the movement of trade exchange between the two countries.

She pointed out that the Egyptian state is currently implementing an integrated plan to deepen the local industry, in cooperation with the private sector, in a way that contributes to meeting the needs of the local market and exporting to foreign markets.