Trade exchange between Egypt, Greece reaches €400M: Min.

CAIRO – 1 May 2018: Trade Exchange between Egypt and Greece rose by 43 percent in the last period, reaching €400 million, Trade Minister Tarek Kabil said on Tuesday.

In his speech during the Egyptian-Greek Business Forum, Kabil said Egypt’s exports to Greece saw an increase in 2017 and included potatoes, textiles, olives and frozen vegetables.

Egypt’s most prominent imports from Greece, meanwhile, include fruits, wheat, plastic and oil, among others.

Total Greek investments in Egypt stand at $155 million represented in 160 projects that work in the fields of industry, services, construction, tourism, communication, information technology, financing and agriculture, according to Kabil.

As for Egyptian exports to Cyprus, the minister said that they have remarkably increased, leading to a rise in some industrial sectors’ exports to the European Union.

Egypt’s exports to Cyprus included iron and steel products, furniture, food industries, plastic products, fruits and vegetables, Kabil said.

Kabil said in previous statements that the Egyptian exports to the Cypriot market increased by 81.5 percent in 2017, reaching €33 million, compared to €18.2 million in 2016.

Trade exchange between Egypt and Cyprus reached €45 million in 2017 including €33 million in exports and €12 million in imports, Kabil said in a statement on Monday.

Egyptian President Abdel Fatah al-Sisi, Cypriot President Nicos Anastasiades and Greek President Prokopis Pavlopoulos inaugurated on Monday the “Revival of Hellenism in Egypt” week in Alexandria, with the participation of the Greek and Cypriot communities in Egypt.

The initiative is considered to be the first of its kind, aiming to recall the memories and heritage of Egypt, Greece and Cyprus.