Cairo – Mubasher: Trade balance surplus between Egypt and the UAE rose slightly by 7.1% year-on-year to $1.5 billion in 2017 from $1.4 billion in 2016, Egypt’s trade minister Tarek Kabil said in a statement on Sunday.
The ministry aims at strengthening its trade relations with the UAE by boosting Egyptian exports to the Emirati market and expanding exporters’ bases, in addition to participating in the UAE’s exhibitions, Kabil added.
The UAE is the biggest investor in Egypt with a total investment of $6.2 billion in several sectors, the minister indicated.
Given Egypt’s trade balance deficit declined by 33% to $34.86 billion in the first nine months of 2017 from $23.39 billion.
