Trade Exchange bet. Egypt, Belarus hits $130M in 11 months

CAIRO - 20 February 2020: "Trade exchange between Egypt and Belarus amounted to $130 million during the first 11 months of 2019,"Minister of Trade and Industry Nevine Gamea said Thursday.

Gamea added during the first meeting of the Egyptian-Belarusian Business Council and the Fifth Business Forum that the most important items of trade exchange between the two countries include engineering and electronic goods, spinning, textiles, ready-made clothes, chemical products and fertilizers.

The minister pointed out that the past stage witnessed the launch of many industrial partnerships between Egypt and Belarus in the areas of assembly and joint manufacturing of trucks, tractors, engines and loaders, noting the importance of activating joint efforts to double the trade exchange during the next stage.

She emphasized the Egyptian Government's keenness to overcome all obstacles facing joint investments, pointing out to the prime minister’s decision issued in December 2019 to include the Belarusian origin clause to supply products within Egyptian tenders, providing excellent marketing opportunities for Egyptian Belarusian joint production.

Gamea noted that the Egyptian market offers promising opportunities to the Belarusian companies to participate in major projects in the Suez Canal economic zone, as well as projects to build new cities, roads, railways and agricultural reclamation. "In addition, there are also promising joint investment opportunities for production and export to African markets."

For his part, Minister of Anti-Monopoly regulations and Trade of Belarus Vladimir Koltovich said that Egypt and Belarus have strategic political and economic relations that will contribute to strengthening the frameworks of trade, industrial and investment cooperation. He also indicated Belarus's willingness to support the Egyptian industry through the establishment of joint Egyptian Belarusian industrial projects, transferring the large Belarusian industrial expertise to the Egyptian industry.

He added that Belarus needs to boost its current imports from Egypt, which are limited to clothing, household items, furniture and paints, to expand to new sectors such as vegetables, fruits and medicines. Koltovich also stressed the importance of developing cooperation in the field of tourism and setting up factories and joint projects.

Koltovich added that the Belarusian side is interested in exporting to Africa and the Middle East through Egypt, calling on the Egyptian companies to participate in the Bell Agra exhibition specialized in agricultural processing machines, which will be held during April in Belarus.