Egyptian exports to African nations increase by 13% during 2023: trade minister

CAIRO - 18 December 2023: Egypt's exports to African countries surged by 13 percent between January and October 2023, reaching a total of $6 billion.

This was discussed during a meeting between Minister of Trade and Industry, Ahmed Samir, and Prime Minister Mostafa Madbouly, where they explored strategies to enhance Egypt's trade relations with African nations.

It is noteworthy that Egypt holds the largest share of intra-trade within the Common Market for Eastern and Southern Africa (COMESA). In 2022, the trade volume between Egypt and COMESA countries reached its highest level, totaling $4.3 billion, as highlighted by the trade minister.

To expand the presence of Egyptian exports in African markets, Egypt was among the early adopters of the African Continental Free Trade Agreement.

During the meeting, Samir presented proposed strategies for establishing comprehensive Egyptian commercial centers in Africa. These plans leverage the resources of Al-Nasr Company for Export and Import, which possesses assets in multiple African countries.

In Kenya, the plan is to utilize a 2,100 square meter plot owned by Al-Nasr Company in Nairobi, the capital, to establish an "Egyptian Logistics Center." This center will cater specifically to storage and handling services for Egyptian exports.

For Tanzania, the ministry proposed the establishment of an Egyptian commercial center in Dar es Salaam, emphasizing the importance of warehouses to facilitate the availability of Egyptian goods in the area.

In November, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported a 15.6 percent increase in Egypt's exports to COMESA countries in 2022, reaching $3,544 million compared to $3,066 million in 2021.