France to invest more in Egyptian trade: ambassador

Shaimaa Al-Aees
2 Min Read
Egyptian President Abdel Fattah Al-Sisi held talks on Monday with his French counterpart Francois Hollande on the sidelines of the United Nations climate summit in Paris, known as COP21.

The French ambassador to Cairo, Andre Parant, has announced that his embassy is encouraging French companies to make investments in the Egyptian market.

He told Daily News Egypt that the Egyptian market is promising and acts as the main engine for economic activity in the region.

The most promising sectors for French investments are infrastructure, food, transportation, and energy, particularly renewables, he said. The size of trade between Egypt and France is expected to increase by 20% by the end of 2015, according to the results indicators of the first half of 2015, he said.

The volume of trade with Egypt continues to increase by 18% annually, amounting to €2.6bn in 2014. French exports to Egypt amounted to €1.6bn, while Egyptian imports to France totalled €1bn.

Egypt and France are bound together by good economic relations. French investments in Egypt amounted to €3.5bn with 100 engaged companies in various fields, the biggest of which are Mobinil and Lafarge, as well as other companies in the sectors of energy and food.

In October this year, the French food industry exhibition SIAL visited Egypt, and Parant said it was a good opportunity for Egyptian companies to increase their sales on the French market.

The French market presents particular opportunities for the sale of Egyptian wheat products and meat, as well as many other food products. Trade between Egypt and France in the food industry amounts to €600m annually.


Share This Article
Leave a comment