$ 5.3 billion trade volume between Egypt and Mercosur countries

CAIRO 13 July 2017: Trade volume between Egypt and Mercosur countries (Brazil-Argentine-Uruguay-Paraguay) during the last year reached $ 5.3 billion, of which Egyptian imports amounted to $ 110 million, and exports to $ 4.3 billion.

Micheal Gamal; Head of Bilateral Agreements Sector at the Ministry of Trade and Industry spoke about the free trade agreement between Egypt and Mercosur countries in a workshop organized by the Trade Agreement Sector at the Egyptian Ministry of Trade and Industry.

"Through the agreement signed by the Argentinean Parliament in last May, we endeavor to open new Egyptian markets in the most important economic blockades in Latin America" said Gamal. He also estimated the domestic gross volume of Mercosur countries to be a combined $ 1.7 trillion, with a 1.7 percent growth ratio.

Mercosur has five full member countries (Argentina, Brazil, Paraguay, Uruguay, Venezuela), and two associate members (Bolivia and Chile). The purpose of Mercosur is to promote free trade and the fluid movement of goods, people, and currency.