- The bilateral trade between Egypt and Qatar, according to the latest data from the Central Agency for Public Mobilization and Statistics, grew to $44.8 million during 2021, compared to $25.4 million in 2020.
The bilateral trade between Egypt and Qatar, according to the latest data from the Central Agency for Public Mobilization and Statistics, grew to $44.8 million during 2021, compared to $25.4 million in 2020.
With Egypt striving to evolve as a regional energy hub, and Qatari capabilities in this regard as the largest exporter of liquefied gas in the world, the energy sector has been identified as one of the most potential areas of cooperation between both states. Recently Qatar Energy Company signed an agreement with Shell, by which it acquired a 17 percent 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 percent stake in an exploration area managed by ExxonMobil in the region.
Meanwhile, bilateral trade between Qatar and Egypt grew by 50% in 2021 largely due to the active participation of the private sector from both countries, said the Chairman of Qatar Chamber of Commerce & Industry (QCCI) Khalifa Bin Jassim Bin Mohammed Al Thani. The trade exchange between the two countries jumped to 239 million riyals, compared to 159 million riyals in 2020.
Al Thani made the statement during the celebration marking the 100th anniversary of Alexandria Chamber’s establishment as the first chamber of commerce in Egypt, the Arab and African region. Both the countries, he said benefitted from the close ties between Qatar Chamber and the Federation of Egyptian Chambers, as well as through joint coordination within their membership in the Federation of Arab Chambers.
Also read;
https://trendsnafrica.com/egypts-president-in-qatar-after-a-gap-of-4-years/
https://trendsnafrica.com/egypt-and-qatar-sign-mou-to-strengthen-economic-cooperation/
