Trade exchange between Egypt, Arab countries surged by 18% in 2021: Trade Minister

Daily News Egypt
2 Min Read

Minister of Trade and Industry Nevine Gamea said that the volume of trade exchange between Egypt and Arab countries increased by 18% in 2021 compared to 2020, and that Egyptian exports to Arab countries amounted to about $9.547bn in 2021, which represents about 30% of the country’s total exports.

She also stressed the importance of strengthening the private sector as a strategic and basic partner for economic development plans in Arab countries.

Gamea added that Egyptian non-oil exports achieved unprecedented positive indicators in 2021, reaching $32.13bn, compared to 2020’s $25.43bn in 2020 — an increase of 27%.

The minister elaborated that the Arab private sector has a pivotal role in linking business strategies to sustainable Arab development, developing a circular and participatory economy, and strengthening regional Arab supply chains through joint projects.

During the opening of the 132nd meeting of the Union of Arab Chambers, Gamea said that the Egyptian state has taken great strides towards deepening local industrialisation, increasing export rates, and enhancing the added value of Egyptian exports in global markets.

She further highlighted the strong partnership that exists with the private sector within the framework of Egypt;s development vision that focuses on maximising its role in various fields.

For his part, Abdullah Al-Mazrouei, the President of the Union of Arab and Emirati Chambers, stressed the importance of strengthening trade exchange and economic relations between Arab countries, especially in light of the great challenges witnessed by the global economy.

He also highlighted the great role of Egypt in unifying efforts to achieve a qualitative leap in Arab economic cooperation.

Furthermore, Khaled Hanafy, the Secretary-General of the Union of Arab Chambers, confirmed the importance of benefiting from Egypt’s presidency of the current session of the Economic and Social Council at the Arab League to develop a comprehensive vision that contributes to the flow of trade exchange and joint investments among Arab countries.

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