Egypt hopes to build on this week’s signing of the Tripartite Free Trade Area between three major trade blocs - East African Community (EAC), Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (Comesa) –to boost exports to the African continent.
Daily News Egypt reports that South Africa, Libya and Angola are Egypt’s biggest export source markets for non-crude oil, petroleum gases, iron and steel industries, engineering products, as well as wires and cables.
Egypt’s minister of industry and foreign trade, Mounir Fakhry Abdel Nour, was quoted by the daily newspaper as saying that there was a great opportunity to increase the volume of Egyptian exports to US$5bn over the next three years, compared to the US$2.7bn figure recorded in 2013.
“This requires concerted efforts amongst stakeholders, whether government or private sector, to take advantage of this opportunity in Egypt’s export development to Africa, particularly to SADC markets,” he said.
Daily News Egypt reports that South Africa, Libya and Angola are Egypt’s biggest export source markets for non-crude oil, petroleum gases, iron and steel industries, engineering products, as well as wires and cables.
Egypt’s minister of industry and foreign trade, Mounir Fakhry Abdel Nour, was quoted by the daily newspaper as saying that there was a great opportunity to increase the volume of Egyptian exports to US$5bn over the next three years, compared to the US$2.7bn figure recorded in 2013.
“This requires concerted efforts amongst stakeholders, whether government or private sector, to take advantage of this opportunity in Egypt’s export development to Africa, particularly to SADC markets,” he said.
