Trade exchange between Egypt, UK hits $1.3B in H1 2018

Trade Exchange between Egypt and the United Kingdom recorded $1.33 billion during the first half of 2018, Minister of Industry and Foreign Trade Amr Nassar said.

The minister stated that the British investments in Egypt recorded $5.6 billion through 1450 projects in fields of industry, services, constructions, tourism, finance, agriculture, telecommunications and information technology.

This came during the minister’s meeting with British Trade Envoy to Egypt Jeffrey Donaldson to review the future of economic relations between the two countries, especially in light of Britain's decision to leave the European Union, which is known as Brexit.

Brexit is a combination of two words, “British” and “exit”, and refers to the withdrawal of the United Kingdom from the European Union. In June 2016, the British electorate voted to leave the EU with a percentage of 51.9 percent.