The Egyptian Minister of Petroleum, Tarek El-Molla, witnessed the signing of the agreement along with Saeed Mohammed Al Tayer, Chairman of the Board of Directors of Dragon Oil Company,
The memorandum of understanding relates to the logistical supply for real estate development projects in the Kingdom of Saudi Arabia, which the consortium will implement in the Kingdom and elsewhere.
This initiative is in collaboration with the Ministry of Trade and Industry, and the Ministry of Agriculture and Land Reclamation.
Samir noted that the Egyptian commodity exports to Turkey saw a significant increase, reaching $2.934 billion compared to about $2.288 billion during the same period in 2022, reflecting a 28 percent increase.
This marked the highest value achieved in the history of engineering exports, surpassing the $3.841 billion recorded in 2022, according to the statement
She added Thursday that the company achieved exports totaling around $1.5 billion in 2023, and it is expected that the company's exports will reach $1.75 billion by the end of 2024.
In a televised statement concluding his tour of the SCZone in Ain Sokhna, Madbouly highlighted its transformation into a trade hub with a focus on local industry
Egypt, along with 47 countries, has ratified the agreement, explained Al-Wathiq Billah. He expected the rest of the countries to ratify the trade agreement by the second half of 2024
The total size of trade exchange between Egypt and other African countries recorded during that period $2.117 billion.
Minister of Agriculture and Land Reclamation, El Sayed El Qusair, announced the addition of over 3.5 million feddans of agricultural land through desert reclamation.
The Egyptian exports of processed food recorded $4.7 billion in January-November 2023 achieving growth of 15 percent ($628 million).
CAPMAS added that the country’s imports decreased by 21 percent on a yearly basis, totaling $58.5 billion, compared to $74 billion for the same period in 2022.
In 2022, the trade volume between Egypt and COMESA countries reached its highest level, totaling $4.3 billion, as highlighted by the trade minister
The largest leap was a staggering 152.7 percent in natural gas (NatGas) and liquefied natural gas (LNG) exports, soaring to $9.90 billion during January-December 2022, compared to $3.90 billion in 2021
Agricultural exports to Arab countries amounted to 42 percent of the sector’s export volume at 2.355 million tons, valued at $1.314 billion or 37 percent of Egypt’s total agricultural trade value
Egyptian exporters would be able to retain the company's services instead of sending samples for testing abroad saving half the costs and 90 percent of the time the process takes.
Egypt relies on imports of Israeli gas to meet a portion of its domestic demand, as well as for re-export purposes.
Speaking at the African Intra-Trade Exhibition (IATF 2023), El-Gabaly highlighted the importance of strengthening ties with African countries, emphasizing their potential as vibrant markets with a collective population of 1.5 billion
The intra-Africa trade represents only 16 percent of the global share.
Exports from Egypt declined by 1.9 percent to reach $3.36 billion during August 2023, compared to $3.43 billion reported in August of last year