trade
Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) monitored the development of Egyptian exports to African Union countries, which achieved a significant increase during 2023.
Foreign investments from G20 nations in Egypt rose to $12 billion in the 2022/2023 fiscal year, up from $8.7 billion in 2021/2022
Egyptian Minister of Industry and Transport Kamel Wazir said the geopolitical risks emerging from unprecedented challenges and conflicts in the region caused more complication of transport and trade movement and hampered supply chains worldwide.
The United States remains the largest market for Egyptian garments, accounting for $871 million, or 43% of total exports. The European Union follows with $482 million
The CAPMAS report also highlighted a significant surge in Malaysian investments in Egypt, which rose to $24 million in the 2022/2023 fiscal year, a substantial increase from the $5.1 million seen in 2021/2022
SCZone Chairman Walid Gamal El-Din revealed these plans in a recent interview, emphasizing that the expansion of infrastructure is key to supporting the increasing number of projects and companies within the zone
The Central Bank of Egypt (CBE) has reportedly directed banks, for the first time in two months, to allocate dollars for letters of credit (LC) related to the importing of non-essential goods requiring pre-approval.
The index, excluding crude oil and petroleum products, registered at 111.44, a slight decrease of 0.01 percent from July's final figure of 111.45.
During his keynote address at the regional forum titled "Accelerating Food System Transformation in the Arab Region" in Amman, Farouk also emphasized the importance of enhancing internal trade.
Ambassador to Nigeria Mohamed Fouad met President of the Economic Community of West African States (ECOWAS) Omar Touray.
Saudi Arabia led the BRICS countries importing from Egypt, with Egyptian exports amounting to $2.2 billion. The UAE followed with $1.8 billion, Brazil with $488 million, Russia with $438 million, India with $343 million, and China with $290 million.
Minister of Foreign Affairs and Immigration Badr Abdel Aty met Monday with Asian ambassadors to Cairo.
The minister led a comprehensive meeting to discuss the customs release process and the inspection of imported goods with representatives from various ministries and relevant authorities.
According to the Central Bank of Egypt’s (CBE) latest release on the country’s Balance of Payments (BoP), Egypt recorded a $9.7 billion surplus in the fiscal year 2023/2024, while the current account deficit expanded, registering at $20.8 billion
The investment arm of Egypt Post, Post for Investment’s latest endeavor seeks to facilitate seamless trade between Egypt, African nations, and countries worldwide.
El-Khatib emphasized that this new vision is designed to enhance confidence among both local and foreign investors.
Minister of Foreign Affairs, Immigration and Egyptian Expats Badr Abdelatty made Tuesday a phone call to his Vietnamese counterpart Bùi Thanh Sơn.
Minister of Foreign Affairs Badr Abdelatty met Monday with Russian Minister of Industry and Trade Anton Alikhanov during his visit to Moscow.
The Prime Minister also discussed recent economic reforms and new tax policies aimed at resolving tax disputes and easing procedural complexities. While acknowledging Egypt's progress in overcoming economic challenges, he noted ongoing difficulties due to regional developments.
The two Chinese delegations have as members representatives of the public and private sectors.
