Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song
CAIRO - 28 March 2022: Trade exchange between Egypt and Cyprus reached about $66 million during 2021, according to the Minister of Trade and Industry Nevine Gamea.
Games elaborated that the trade exchange included $42 million in exports and $24 million in imports.
She added that the most important items of trade exchange between the two countries include iron and steel products, and vegetables.
“The total Cypriot investments in Egypt amount to $ 358 million in 191 projects in the fields of services, industry, services, construction, tourism and agriculture,” she further said.
This came during Gamea’s discussion on Monday with her Cypriot counterpart Natasa Pilides ways of enhancing economic ties.
They discussed the possibility of organizing a visit by an Egyptian businessmen delegation to Cyprus during the second half of this year and in coordination between the Federation of Egyptian Chambers of Commerce and the Cyprus Chamber of Commerce and Industry.
Gamea emphasized the importance of promoting cooperation in various economic sectors, including the energy sphere through the power linkage project and exporting natural gas to the European continent.
The minister also invited Cypriot businessmen to do business in Egypt, which is considered a hub to the Arab and African markets.
For his part, Pilides said that Cyprus is keen on boosting cooperation in Egypt in the various spheres.
“Egypt is one of the most important countries in the Middle East and the African continent,” he added.
The minister also pointed out the importance of attaining economic integration between Egypt and Cyprus along with Greece, as part of the trilateral cooperation between them.