Trade exchange bet. Egypt, Singapore reaches $1B

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Wed, 05 Feb 2020 - 12:34 GMT

FILE - Exports

FILE - Exports

CAIRO - 5 February 2020: Trade exchange between Egypt and Singapore recorded $1 billion, Singapore's Ambassador to Egypt Dominic Goh said Wednesday.

Goh also revealed during his visit to the Egyptian Minister of Local Development Mahmoud Shaarawy that Singaporean investments in Egypt reached $500 million. He clarified that trade between the two countries focuses on consumer and agricultural products.

The ambassador noted that Egypt has been one of the first countries to recognize Singapore’s independence.

The two sides also discussed the possibility of cooperating with Singaporean experts on the disposal of solid waste and untreated effluent.

Shaarawy said that the bilateral relations between the two countries have witnessed continuous development in recent years, pointing out that Egypt believes that Singapore is a distinctive model for the economic and social development sought by various developing countries.

The minister emphasized Egypt's keenness to take advantage of Singapore's experience in the fields it excels at, namely the management of ports, water desalination, optimal utilization of rain water and solid waste, digital transformation, urban development and industrial zone management, in addition to education and vocational training.

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