(2 minutes read)
· Egypt and the UK inked a trade partnership deal recently , which will come into effect from January 1, 2021 when the U.K will officially leave the European Union
· The agreement provides for continuation of equitable preferential trade treatment for the products of the two countries and will ensure tariff-free trade on industrial products, liberalization of trade in agriculture, agricultural foods and fisheries making trade easier and beneficial for both countries
· The bilateral trade in goods and services between the UK and Egypt was worth US $4.7 billion in 2019
Egypt and the UK inked a trade partnership deal recently , which will come into effect from January 1, 2021 when the U.K will officially leave the European Union.
The agreement provides for continuation of equitable preferential trade treatment for the products of the two countries and will ensure tariff-free trade on industrial products, liberalization of trade in agriculture, agricultural foods and fisheries making trade easier and beneficial for both countries. The agreement going beyond scope of economic engagement, brings under its purview cooperation in furthering political, social and cultural links.
The bilateral trade in goods and services between the UK and Egypt was worth US $4.7 billion in 2019. The U.K has been entering trade deals with various countries in Africa in anticipation of its leaving the EU on 1Janauary 2021. These external trade pacts are important to the UK to maintain the tempo of trade with outside world after exiting European Union.
