By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
    Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
    March 30, 2023
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    March 29, 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: Egypt, UK seek continued stable trade relations
Share
Notification
Latest News
Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
Politics Opinion
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
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 > Trade > Egypt, UK seek continued stable trade relations
BusinessTrade

Egypt, UK seek continued stable trade relations

Nehal Samir
Last updated: 2021/01/27 at 4:13 PM
By Nehal Samir 4 Min Read
Share
UK Export Finance offers £1.7bn guarantee for Egypt’s 2 monorails manufacturing
Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2017-11-07 11:19:40Z | |
SHARE

One of the Egypt-UK trade agreement’s main objectives is to ensure stable and predictable continuation of trade relations between both countries.

The UK-Egypt Association Agreement was signed in early December 2020 and took effect in January 2021.

A virtual press conference was held by the British Egyptian Business Association (BEBA), on Tuesday, under the title of ” Egypt-UK Trade agreement: Unleash New Opportunities for UK and Egyptian businesses.”

During the event, Paul Mullard, senior advisor at the UK Department for International Trade (DIT), said that the Egypt-UK agreement provides confidence to business and trade between the two countries.

It will ensure that it continues on almost the same terms as secured in the EU-Egypt Association Agreement. Consequently, business in general will not be affected by drastic change in terms of trade and applying the UK-Egypt Association Agreement.

Mullard also touched on the rules of origin that the UK will continue to use the Euro and Euro-Mediterranean format for movement certificates.

Iman Refaat Nasr, General Director of Trade in Goods, Trade Agreements and the Foreign Trade sector at Egypt’s Ministry of Trade and Industry, said they are currently preparing for several meetings with the business community in Egypt. These will include export councils, the Federation of Egyptian Industries (FEI), as well as the Egyptian Export Association (EEA), in order to hear from them and to share information.

“Throughout these events, we will be establishing the link between the needs of the private sector and what the government can do to help them,” Nasr said, “In the near future, you will hear a lot about a number of meetings with the business communities.”

She added that Egypt and the UK enjoy long standing strategic economic relations in different fields, with importance placed on continuing to build on such relations.

Nasr said that the UK is one of the largest investors in Egypt in different sectors, including the oil and gas, and telecommunications and pharmaceuticals sectors.

“There is always potential to enhance the relations between the two countries, and to capitalise on the fact that Egypt has a network of free trade agreements,” she said, “The latest of which law entered into force, the African Continental Free Trade Area (AfCFTA).”

Nasr added that the current agreement provides an opportunity to focus more on exploring different ways of enhancing the trade relations between both sides.

“The trade between the two parties stood at about £3.6bn in 2019, of which £2.4bn was in trade and goods,” she said, “This represented only 8% of Egypt’s trade with the EU in 2019.”

She also said, “I believe our trade has the potential, particularly relating to the Egyptian exports of agricultural products, particularly fruits and vegetables.”

Nasr noted that, according to UK statistics, imports of fruits and vegetables into the UK was £11.5bn, whereas exports were £1.3bn, so there is a gap that Egypt could play a crucial role in it.

During the conference, Ahmed Ezz El-Din, Vice President of the Fed International for Industry and Trade, said that the Egyptian government still needs to take real actions on the ground.

These should aim to promote investment and business opportunities, with Ezz El-Din adding that the country has to help UK businesspersons recognise these opportunities and make the most of the benefits of the Egypt-UK Association Agreement.

You Might Also Like

Egypt’s IDA gears up to provide its services for investors online 

Egypt, Germany discuss promotion of cooperation in communications, digital transformation

Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador

Volatile trading on EGX amid anticipation of interest rate movement

Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt

TAGGED: BEBA, British Egyptian Business Association, Egypt, UK
Share this Article
Facebook Twitter Email Print
Previous Article US not in position to lecture Egypt on human rights: Parliamentarian US not in position to lecture Egypt on human rights: Parliamentarian
Next Article Prime Minister Boris Johnson UK, Egypt, international partners launch new Adaptation Action Coalition
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
Politics Opinion
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
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?