Trade exchange bet. Egypt, Sweden reaches €644M in 2017

CAIRO – 19 February 2018: Minister of Industry and Trade Tarek Kabil stated that the volume of trade exchange between Egypt and Sweden recorded €644 million ($799.04 million) in 2017.

Kabil added that the Swedish investments in Egypt reached a $141 million dividend on 146 projects in different sectors.

This came during a session with the Minister of European Union Affairs and Trade in Sweden Ann Linde, who is currently visiting Cairo.

The Egyptian minister pointed out that Egyptian exports to Sweden included carpets, fruits, vegetables, foodstuffs, clothing, furnishings, ceramics and glass while the imports included wood, electronics, vehicles, paper, dairy products and medicines.

Kabil noted that Egypt seeks to encourage Swedish companies to invest in the Egyptian market and to benefit from the available investment opportunities.

For her part, the Minister of European Union Affairs and Trade of Sweden Ann Linde said that Egypt is an important trading partner for Sweden in the Middle East and Africa, clarifying that Egypt is one of the top 26 countries in the Swedish government's export strategy.

She noted that number of Swedish companies in Egypt started their expansions in the Egyptian market as ABB Company that seeks to participate in the implementation of electrical linking projects between Egypt and a number of countries in the region, such as Saudi Arabia, Greece and Cyprus.