Cairo – Mubasher: Trade exchange between Egypt and the Southern Common Market (Mercosur), which includes Brazil and Argentina, Uruguay, and Paraguay, amounted to about $3.3 billion per year, according to a statement by the Egyptian Trade and Industry Ministry on Thursday.
Egypt’s trade minister Tarek Kabil has taken part in the ministerial meeting of the Mercosur Summit 2017 at the Brazilian capital Brasília, on the behalf of President Abdel Fatah El-Sisi, the ministry added.
This meeting was attended by the ministers of foreign affairs and ministers of trade of the Mercosur member countries, in addition to those of Egypt, Chile, Bolivia, Peru, Guyana, Ecuador, Suriname, Colombia, and Venezuela.
Kabil has discussed during the meeting Egypt's economic reforms over the past two years, including the new investment law and other laws, as well as the Suez Canal Corridor Area Project and the Golden Triangle project.
The Egyptian trade ministry had previously announced that it has started the implementation of the free trade agreement (FTA) between Egypt and the Mercosur’s countries.
Kabil last stated that Egypt was weighing up the establishment of an Egyptian-Brazilian economic committee to reinforce mutual economic cooperation between both countries in different sectors.
