By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
    Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
    March 27, 2023
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    March 27, 2023
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    March 27, 2023
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    March 27, 2023
  • Politics
    PoliticsShow More
    China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
    China’s latest diplomatic move will extend its trade, energy, financial and maritime power
    March 27, 2023
    Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
    As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
    March 27, 2023
    Mass Israel protests after Netanyahu fires defence minister
    Israeli PM calls for calm amid turmoil over government’s judicial overhaul
    March 27, 2023
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    March 27, 2023
    Afghan security forces discover IS weaponry in northern province
    Afghan security forces discover IS weaponry in northern province
    March 27, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egyptian exports to the UAE exceed $2bn last year, up by 125%
Share
Notification
Latest News
China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
China’s latest diplomatic move will extend its trade, energy, financial and maritime power
Opinion Politics World
Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
Opinion Politics
Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Stock Market
Mass Israel protests after Netanyahu fires defence minister
Israeli PM calls for calm amid turmoil over government’s judicial overhaul
Politics
European Commission VP visits Egypt to discuss education, mobility, and migration issues
European Commission VP visits Egypt to discuss education, mobility, and migration issues
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 > Egyptian exports to the UAE exceed $2bn last year, up by 125%
Business

Egyptian exports to the UAE exceed $2bn last year, up by 125%

Daily News Egypt
Last updated: 2017/09/25 at 8:20 PM
By Daily News Egypt 4 Min Read
Share
SHARE

Minister of Industry and Trade Tarek Kabil affirmed that the Egyptian-Emirati relations are strategic and close. He pointed out that the economic relations between the two countries are witnessing unprecedented momentum in the form of joint development projects that benefit both countries’ peoples alike.

 

This came in the context of statements made by the minister before leaving Cairo for the United Arab Emirates’ (UAE) capital, Abu Dhabi, accompanied by President Abdel Fattah Al-Sisi, who is visiting the UAE at the head of a delegation of senior officials of the Egyptian government to discuss means of enhancing bilateral relations between the two countries and review regional files of common interest.

 

The minister said the UAE has not hesitated to support the Egyptian economy during the last phase, pointing out that the UAE’s support was reflected in the form of a large number of development projects in the basic economic sectors.

 

Kabil also said Egyptian exports to the UAE have increased significantly during the first half (H1) of 2017—scoring $1.204bn, up from $1.126bn during the same period of 2016—marking an increase of 7%. He added that H1 of this year witnessed a trade surplus in favour of Egypt, which reached $735m, compared to $685m in H1 2016.

 

The minister added that the trade balance between the two countries last year also achieved a surplus in favour of Egypt amounting to $1.478bn, compared to a trade deficit of $157m in 2015.

 

Moreover, he noted that Egyptian exports last year exceeded, for the first time, the $2bn record, registering $2.386bn, up from $1.061bn in 2015, with an increase of 125%. He added that Egyptian imports from the UAE declined by 25%, settling at $908m, down from $1.218bn in 2015.

 

The main items of Egyptian exports include electrical appliances, furniture, vegetables, fruits, pharmaceuticals, and food, while Egyptian imports from the UAE include petroleum products, pharmaceutical products, iron, and steel.

The minister added that the significant increase in the Egyptian exports to the UAE market resulted from the success of the ministry’s continuous efforts in promoting the national product in various international markets. He noted that Egyptian products are highly competitive in the Emirati market because of their high quality and competitive prices.

 

Kabil pointed out that the UAE is ranked first in the list of countries investing in the Egyptian market with investments totalling $6.2bn in 868 projects in the telecommunications, banking, real estate, tourism, communication, and information technology sectors.

In addition, he highlighted a significant development in the movement of Emirati investments in the Egyptian market, especially after the announcement by a number of UAE companies about new investments in Egypt to cultivate 20 million palm trees and announcing a joint Egyptian—Emirati project to produce self-destroying syringes and promote a real estate project to establish 30,000 units.

You Might Also Like

Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis

European Commission VP visits Egypt to discuss education, mobility, and migration issues

Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun

Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export

Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management

TAGGED: Exports, Minister of Industry and Trade, Tarek Kabil, UAE
Share this Article
Facebook Twitter Email Print
Previous Article Tahya Misr Fund’s executive committee prioritises supporting 5 fields next year
Next Article Market will recover in coming period: CEO of Toyota Egypt
Leave a comment

Leave a Reply Cancel reply

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

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

China’s president Xi met with the King of Saudi Arabia Salman bin Abdulaziz Al-Saud in 2017. Reuters/Alamy
China’s latest diplomatic move will extend its trade, energy, financial and maritime power
Opinion Politics World
Saudi Arabia, to the surprise of many, chose China to broker its deal with Iran in March 2023. Chinese Foreign Ministry/Anadolu Agency via Getty Image
As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy – and recent deals with China, Iran and Russia fit this strategy
Opinion Politics
Japan's Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Japan’s Nikkei ends higher, gains capped amid continued concerns over global financial crisis
Stock Market
Mass Israel protests after Netanyahu fires defence minister
Israeli PM calls for calm amid turmoil over government’s judicial overhaul
Politics
//
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?