Egypt-Qatar trade exchange hits $44.8 million in 2021: CAPMAS

CAIRO - 20 September 2022: A study issued by the Egyptian Center for Thought and Strategic Studies said that the level of trade exchange between Egypt and Qatar, according to data from the Central Agency for Public Mobilization and Statistics, increased to $44.8 million during 2021, compared to $25.4 million in 2020.

 

"One of the files of rapprochement between the two countries is the Egyptian labor case in Qatar, which is estimated at a number of 350,000 workers, and the value of their remittances amounted to $1.34 billion in 2020," the study added.

 

The study indicated that the energy sector is one of the most prominent areas of cooperation between both states, in light of the regional position that Egypt seeks to achieve as a regional energy hub, and the Qatari capabilities in this regard as the largest exporter of liquefied gas in the world.

 

Qatari investments in the Egyptian energy sector grew through Qatar Energy Company signing an agreement with Shell, according to which it acquired a 17% stake in each of the two concessions (Block 3 and Block 4) managed by Shell in the Red Sea region. 

 

In March 2022, the company acquired also holds a 40% stake in an exploration area managed by ExxonMobil in the Mediterranean.