Cairo – Mubasher: Egypt’s minister of trade and industry Tarek Kabil revealed that trade volume between Egypt and Switzerland amounted to $1.36 billion in 2016.
The Egyptian exports to Switzerland soared 498% to $477 million in 2016, compared to $79.7 million in 2015, Kabil added in a statement on Wednesday.
Kabil highlighted that Switzerland ranks 15th among countries investing in the Egyptian market.
Switzerland contributes around $1.08 billion in a number of investment projects in Egypt whose combined capital amounts to $2.7 billion.
This came as a part of Kabil’s meeting with the Swiss ambassador to Egypt Paul Garnier, in which both discussed the Egyptian-Swiss economic relations and Swiss investments in the Egyptian market.
The minister further announced that the Swiss minister for economic affairs will visit Egypt in November.
On 19 September, minister of finance Amr El-Garhy said that the volume of Egypt’s exports reached $20 billion in fiscal year 2016/2017.
In April, the trade minister Tarek Kabil stressed that Egypt’s trade deficit retreated by 46.24% or $5.669 billion in the first quarter of 2017.
