Tarek Qabil (Photo: archive) Tarek Qabil (Photo: archive)

Trade between Egypt and African countries reach $ 4.8bn in 2016

Sat, Aug. 12, 2017
CAIRO – 12 August 2017: Trade between Egypt and African countries has reached a total of $ 4.8 billion compared to $4.5 billion in 2015, according to a released statement on Saturday. The increasing value was due to Egyptian exports which comprised a total of $3.4 billion in 2016 while the imports totaled of $1.3 billion.

Egyptian Trade and Industry Minister Tarek Qabil confirmed that President Abdel Fattah el Sisi’s awaited visit to African nations Tanzania, Rwanda, Chad, and Gabon is an important step to strengthen ties between Egypt and Africa politically and economically. Potential trade ties are expected to be discussed including formulating a free trade area, according to a released statement by Ministry.

Qabil also added that a trading strategy will be formed to enrich trade and investment ties with international markets to promote Egyptian local products in other markets. Five trade offices have opened in Africa located in Tanzania, Ghana, Uganda, Djibouti, and Côte d'Ivoire along with a logistics center that opened in Kenya to facilitate trade activities between Egypt and other east African countries.
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