(3 minutes read)
A study undertaken by the Egyptian Center for Thought and Strategic Studies revealed that the level of trade exchanges between Egypt and Qatar increased to US$44.8 million in 2021, compared to the US $25.4 million in 2020. The study was conducted by the Central Agency for Public Mobilization and Statistics
A study undertaken by the Egyptian Center for Thought and Strategic Studies revealed that the level of trade exchanges between Egypt and Qatar increased to US$44.8 million in 2021, compared to the US $25.4 million in 2020. The study was conducted by the Central Agency for Public Mobilization and Statistics.
Over 350,000 Egyptian workers are present in Qatar. The value of their remittances amounted to US$1.34 billion in 2020, the study indicated. The energy sector is one of the most prominent areas of cooperation between both states, in light of the regional position that Egypt seeks to achieve as a regional energy hub. Qatar has capabilities as the largest exporter of liquefied gas in the world.
Read Also:
https://trendsnafrica.com/egypt-and-qatar-sign-mou-to-strengthen-economic-cooperation/
https://trendsnafrica.com/egypt-plans-to-transport-green-energy-to-europe-through-greece/
https://trendsnafrica.com/egypts-president-in-qatar-after-a-gap-of-4-years/
Qatar’s investments in the Egyptian energy sector grew through Qatar Energy Company signing an agreement with Shell. The agreement provides for the acquisition of a 17% stake in each of the two concessions (Block 3 and Block 4) managed by Shell in the Red Sea region. In March 2022, the company acquired a 40% stake in an exploration area managed by ExxonMobil in the Mediterranean.
