Trade exchange bet. Egypt, Mercosur countries 2020

Trade exchange between Egypt and the Mercosur countries (Brazil-Argentina-Uruguay-Paraguay) amounted to about $3.3 billion during 2020, according to Director General of Bilateral Agreements at the Egyptian Ministry of Trade and Industry, Michael Gamal.

Gamal added during a seminar organized by the Agricultural Export Council that since the entry into force of the agreement in 2017, the volume of Egyptian exports has doubled, rising from $113.1 million in 2016 to $395.8 million in 2020, while the volume of Egyptian imports declined from $4 billion in 2016 to $3 billion in 2020.

He explained that the population of the Mercosur countries exceeds 264 million, and their area is about 12 million square kilometers, and they have great natural resources, as Brazil is the largest protein-producing country in the world, which gives it the advantage of import and export.