Cairo – Mubasher: Trade exchange between Egypt and the UK rose by 7.7% year-on-year during the first quarter of 2018 to GBP 447 million ($592 million) from GBP 414.8 million ($555 million).
Egypt-UK bilateral trade reached GBP 1.85 billion ($2.45 billion) in 2017, Egyptian trade minister Tarek Kabil said in a statement on Wednesday.
The UK is one of the most important investors in the Egyptian market with investments worth $5.6 billion through 1,450 companies and projects a combined, the minister highlighted.
The British investments in Egypt are mainly focused in the industry, services, construction, tourism, financing, agriculture, and communication and information technology sectors, he noted.
This came on the sidelines of Kabil’s meeting with the UK investment minister Graham Stuart, who is currently visiting Cairo to discuss the future of economic collaboration between both countries.
Egypt’s exports to the UK rose by 28.7% in Q1-18 to $268 million from $208 million, according to the Egyptian-British Chamber of Commerce.
