Trade exchange between Egypt, EU states registered €28bn in 2017: Cabinet

CAIRO, Feb 23 (MENA) – The volume of trade exchange between Egypt and the European Union states rose to €28 billion in 2017, compared to €17.4 billion in 2007, the cabinet media center said on Saturday.

The figures were disclosed as part of infographics published on the center’s official Facebook page a day before the start of the Arab-European summit in Sharm el Sheikh.

Co-chaired by President Abdel Fattah El Sisi and president of the European Council Donald Tusk, the two-day summit will be the first of its kind to bring together Arab and European heads of state and government.

The infographics indicated that trade exchange between the EU and Arab countries increased 7 percent to €315.9 billion in 2017, compared to €295.5 billion in 2016.

Arab exports to the EU states rose 20 percent to register €121.6 billion in 2017, against €101.2 billion in the previous year, they showed.

The infographics pointed out to cooperation between the EU and the Arab League (AL) in combating arms smuggling via a project that aims to enhance means of monitoring conventional weapons in the Arab League’s member states at a total cost of €2.7 billion.

The two sides also work together to support efforts of the anti-Daesh international coalition, while ensuring human rights and the rule of law, they added.

Bilateral cooperation also includes efforts to activate political dialogue that targets stability at the regional level, they said.