The volume of trade exchange between Egypt and Italy during the first six months of 2017 has reached €2.594m, compared to €2.276m during the same period last year, an increase of 13.9%, according to Tarek Kabil, the minister of trade and industry.
Kabil said that Egyptian exports to the Italian market have achieved a 35% growth, reaching $995m during the first six months of 2017, compared to €796m during the same period in 2016.
Italy is taking part in about 1,015 projects in the Egyptian market, with a capital of $2.7bn, as the Italian contribution to these projects is estimated to be worth $1.47bn in several fields, including industry, tourism, construction, agriculture, communications, information technology, and financial services. Kabil pointed out the importance of encouraging Italian investors to inject more investments into the Egyptian market to benefit from Egypt’s strategic location, which enables the country to penetrate the markets of 65 countries with which Egypt has free trade agreements, and which would eventually provide Italy with a market with a population of more than 2 billion.
