By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
    September 22, 2023
    Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    September 21, 2023
    ABB allocates €13bn for green transformation by 2030
    ABB allocates €13bn for green transformation by 2030
    September 21, 2023
    DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
    DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
    September 21, 2023
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    September 21, 2023
  • Politics
    PoliticsShow More
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    September 22, 2023
    Egyptian Health Minister highlights country's interest in local drug manufacturing
    Egyptian Health Minister highlights country’s interest in local drug manufacturing
    September 21, 2023
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    September 20, 2023
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    September 20, 2023
    Children dying in Sudan amid healthcare system collapse
    Children dying in Sudan amid healthcare system collapse
    September 20, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt, Switzerland trade volume CHF 1bn in 2014: Swiss Ambassador
Share
Notification
Latest News
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
Real Estate
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt, Switzerland trade volume CHF 1bn in 2014: Swiss Ambassador
Business

Egypt, Switzerland trade volume CHF 1bn in 2014: Swiss Ambassador

Menna Samir
Last updated: 2015/06/02 at 7:49 PM
By Menna Samir 4 Min Read
Share
SHARE
Since 2011, the Swiss have increased their cooperation with Egypt in the area of water sanitation and irrigation, says Markus Leitner, Swiss Ambassador to Egypt  (Photo handout to DNE)
Since 2011, the Swiss have increased their cooperation with Egypt in the area of water sanitation and irrigation, says Markus Leitner, Swiss Ambassador to Egypt
(Photo handout to DNE)

Egypt and Switzerland’s trade balance stood at CHF 1bn in 2014, according to Markus Leitner, Switzerland’s ambassador to Egypt.

Of this amount, 90% of exports come from the Swiss side, with only 10% from the Egyptian side, Leitner added.

“There is obviously a huge gap, and we need to fix that to enable Egyptian exporters to take advantage of the framework agreements and the free trade agreement between Egypt and Switzerland. There’s work to be done, we’re aware of that and we’re working on this issue,” Leitner told Daily News Egypt.

Egypt’s exports to Switzerland include the very basic agricultural and textile products. Swiss exports, on the other hand, include machinery and pharmaceuticals that come in bulk, amongst others.

Leitner indicated that in terms of development cooperation, the Swiss side has invested approximately CHF 25m in three pillars: democratic transition; economic development; as well as migration and protection.

Most of the aforementioned amount went into economic development projects, he said.

We have long-term projects here in Egypt, and among the projects we have participated in are the upgrading of radiology centres and the development of blood banks, amongst others, Leitner noted.

Since 2011, the Swiss have increased their cooperation with Egypt in the area of water sanitation and irrigation, he specified.

“Migration is also an important topic, as this is the biggest industry that Egypt has, and no other industry provides more foreign exchange than the Egyptian migrants abroad. We help them get protected and get their rights, and help channel their money back into Egypt. We further help them to invest here in Egypt,” said the ambassador.

Leitner also discussed a programme launched by the Swiss embassy in late November 2014 in Aswan. The programme aims to provide employment opportunities for youths outside of the tourism sector, and encourage entrepreneurial projects in the area.

There are projects that the Swiss embassy is currently studying, although funding for specific projects has yet to be made.

The embassy has allocated some CHF 5m for the programme in collaboration with Care organisation, a leading humanitarian company fighting global poverty, Leitner said.

“Among the projects we’re looking at now are in the fisheries sector, where we see good potential,” Leitner said. He added that they are looking to support national ideas in the agricultural and basic industrial sectors.

Through the Aswan programme, the embassy aims to help young entrepreneurs develop their business ideas, help them grow, and provide help to existing entrepreneurs to make them viable. It is a long term project covering the whole production chain, starting from the idea and carrying on through to the funding.

It also targets helping young entrepreneurs in expanding their businesses and sell their products domestically and abroad.

Leitner indicated that they chose Aswan in particular because there is not so much international focus in this area.

 

You Might Also Like

Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity

Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company

ABB allocates €13bn for green transformation by 2030

DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups

Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo

TAGGED: Agriculture, Aswan, Daily News, democratic transition, DNE, economic development, Egypt, Employment, entrepreneurs, Exports, fishery, Industry, migration, swiss embassy, Switzerland, The daily News Egypt, tourism, trade balance, trade volume, youth
Share this Article
Facebook Twitter Email Print
Previous Article COMESA activation promotes Egyptian pharmaceutical exports to Africa: El-Ezabi
Next Article REACAP sells Alexandria land piece for EGP 332m
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
Real Estate
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?