Trade News
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Egypt seeks to push forward key IMF deal
The Ukrainian crisis led foreign investors to pull nearly $20 billion out of Egyptian treasury markets in a matter of weeks.
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Egypt’s economy more capable of green recovery
Egypt seeks to lure more development investments, especially in the green projects, through giving more opportunity to the private sector.
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Egypt-Ghana trade deal to help reach $100 bn exports
This is the first trade deal to be signed in light of the AfCFTA, which came into force on January 2021.
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Private sector’s contribution to Egypt’s economy 70-75%
President Abdel Fattah El-Sisi affirmed that the state is keen to remove all obstacles facing investors.
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Egypt's import squeeze hobbles economy as dollars run short
The nation's bill for wheat and oil soaring and with it the need for dollars, and crushed tourism from two of its largest markets - Ukraine and Russia
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Eased customs clearance, tax return to participants in climate summit
The upcoming climate summit, which will be held in the Egyptian Red Sea resort city of Sharm el Sheikh in November.
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Egypt-EU bilateral trade rises to $29.6bln in 2021
EU is the second largest market importing from Egypt on a global level.
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Egypt's trade minister, Qatari commerce chamber chairman discuss economic cooperation
During the meeting, Bin Jassim asserted that there are huge opportunities for boosting cooperation between Egypt and Qatar.
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Egypt’s Trade Minister meets European Parliament member to enhance ties with EU
The volume of trade exchange between Egypt and the European Union amounted to approximately $29.6bn last year, compared to $23.8bn in 2020.
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CBE approves procedures facilitating import/export transactions
the CBE will exclude foreign inputs that are included in locally assembled electronic appliances from the measures set by its decree no.49 of 2022.
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Lebanese investors keen on tapping Egyptian market
Egypt’s “encouraging” investment-friendly legislation is considered the best in the Arab world.
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Egypt’s exports to South Korea hike by 156%
By end of July 2022, Korean exports recorded $967m, meanwhile, Egyptian exports to South Korea reached $766m.
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Egypt sees surge in outsourcing business
At least 19 global services providers and leading tech companies have announced their expansion plans in Egypt.
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Trade exchange between Egypt, NZ reaches $260m in July 2022
Two months ago, Egypt and NZ signed off an export plan for limes, grapefruit, and all sorts of citrus products.
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Egypt, Qatar sign 3 MoU on ports, social development, business
While Qatar expressed deep interest in investing in Egypt, the latter showed openness to Qatari business in the country.
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Egypt’s economy tripled in size over past six years
Egypt’s GDP growth is expected to moderate to 5.5 percent in the current FY 2022/2023 and to five percent in FY 2023/2024 owing to the war in Ukraine.
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Egypt to require wheat suppliers to register in new exchange
GASC added in a letter sent to traders that it will not buy from unregistered suppliers from the start of November.
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Founders of Egyptian B2B startup Capiter fired on fraud allegations
Sources said the company was finding it hard to onboard merchants to its platform while running out of money simultaneously
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Egypt’s foreign trade volume increased
It increased to about $98.476bn by the end of March 2022. An increase of about $26.755bn from March 2021.
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Egypt-Saudi Arabia trade exchange jumps 41% YoY in 2021
Samir noted that trade exchange between the two countries amounted to $4.57 billion in 2021, compared to $3.236 billion in 2020.