Egypt, Greece hike trade


Trade between Egypt and Greece rose 37.5 per cent during 2018, recording €1.8 billion, compared to €1.3 billion in 2017.

The Egyptian Minister of Trade and Industry Amr Nassar said that  exports to Greece increased 15.3 percent in the previous year, reaching €640 million, compared to €555 million in 2017.

He said that Greece agreed to set up a joint working group to enhance economic cooperation between the two countries during the next phase, identifying the target sectors through the Egyptian Ministry of Trade and the Ministry of Economic Development of Greece.

The working group aims to develop a specific plan of action to reach concrete results positively impacting the economic relations between Egypt and Greece, according to the statement.

It added that the Egyptian Trade Representation Office in Athens is the point of contact with the Greek Ministry of Economic Development and will follow up the implementation of the action plan.

This came during the meeting held between Nassar and Greek Deputy Prime Minister and Minister of Economy and Development Yannis Dragasakis during Nassar’s current visit to the Greek capital Athens.

The two ministers discussed the future of economic cooperation between the two countries and a number of economic files on the global agenda during the current stage.

Nassar added that there are huge opportunities for trade cooperation between the two countries in the establishment of logistics centers and free trade areas, contracting, information technology, agricultural development, food industries and energy.

In March, a delegation of major energy investors in Greece expressed their interest in doing business in Egypt in a meeting with Electricity Minister Mohamed Shaker, showing desire to implement wind and solar energy projects in the Red Sea and Minya governorates.