Trade between Egypt and the European Union (EU) is doing well, according to the Egyptian minister of trade and industry, Tarek Kabil (photo). The official indeed indicated that trade volume between the two parties represents more than 30% of the country’s total trade.

During the first half of 2017, Egypt’s exports to the EU rose by 16.5% to US$3.73 billion while imports slumped by 29% to $8.14 billion.

Looking at the trade deficit which thus stood at $5.81 billion, Ahmed Antar, who works at the Egyptian Trade office, said the figure decreased to 62%, from 77% a year before.

Egypt exports mostly iron, steel, chemicals, fertilizers, clothes to the European Union, mainly to Spain, Italy and Bulgaria.

Aaron Akinocho