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· Speaking during the opening session of the Egyptian-Ukrainian Business Forum held recently, li El-Sayed Ali El-Moselhi. Egyptian minister for social solidarity invited Ukrainian firms to invest in the Egyptian silos market and to use the Egyptian market and to use the country as a hub for trading Ukrainian produces including wheat
· There are unlimited opportunities to develop trade relations between both countries, the minster said, adding that more commodities could be added to the mixture of the Egyptian exports to Ukraine, to help balance the trade
· Trade balance between Egypt and Ukraine has hit about US1.8 billion in 2020, down from about US$2.63 billion recorded in 2019, due to restrictions imposed on global trade by the coronavirus pandemic
Speaking during the opening session of the Egyptian-Ukrainian Business Forum held recently, li El-Sayed Ali El-Moselhi. Egyptian minister for social solidarity invited Ukrainian firms to invest in the Egyptian silos market and to use the Egyptian market and to use the country as a hub for trading Ukrainian produces including wheat.
There are unlimited opportunities to develop trade relations between both countries, the minister said, adding that more commodities could be added to the mixture of the Egyptian exports to Ukraine, to help balance the trade.
Speaking at the occasion the Egyptian-Ukrainian Business Forum, Head of the General Federation of the Chambers of Commerce (FEDCOC) Ibrahim el Arabi said the federation would hold several joint economic events to push forward trade relations. These events, he said, were aimed at inviting Ukrainian investments to the Egyptian market.
Trade balance between Egypt and Ukraine has hit about US1.8 billion in 2020, down from about US$2.63 billion recorded in 2019, due to restrictions imposed on global trade by the coronavirus pandemic,
Arabi pointed out that the current Ukrainian investments in Egypt were pegged more than US$ 400 million. This is in addition to the investments directed to the oil and gas excavation sectors which are estimated at more than US$500 million. Large number of Ukrainian tourists- 727,000 – visited Egypt in 2020, making Ukraine at the top.
Egypt is also Ukraine’s largest trade partner in Africa and the Middle East. This can be accelerated if the Ukrainian companies use Egypt as a gateway to the African markets via joint manufacturing, he added.
