Trade exchange bet. Egypt, Agadir countries hits $1.9B in 2019

CAIRO - 29 January 2020: Trade exchange between Egypt and the countries of Agadir Agreement recorded $1.9 billion in 2019, compared to $1.8 billion in 2018, according to Minister of Trade and Industry Nevine Gamea.

Gamea added in a statement Wednesday that the Egyptian exports to the countries of the agreement amounted to $1.5 billion in 2019, compared to $1.4 billion in 2018.

She emphasized the importance of enhancing joint cooperation between the countries of the agreement in the field of developing small and medium enterprises and benefiting from the pioneering Egyptian experience in this field, noting that Egypt has the appropriate work environment, laws, supportive legislation and political support for this type of projects.

The minister also referred to the significance of increasing the rates of intra-regional trade among the member countries to advance the large commercial and industrial potentials of these countries.

In 2004, Egypt signed the Agadir Agreement which is a free trade agreement between four Arab countries: Egypt, Jordan, Morocco and Tunisia. The agreement, which came into force in 2007, helped enhance the trade exchange between the four countries.