Egypt to strengthen cooperation with Mexico

  • Comments   -   Monday, 14 May 2018 - 15:21

(Ecofin Agency) - In 2017, trade volume between Egypt and Mexico amounted to $ 123.4 million, authorities revealed during the launching ceremony of Egypt-Mexico Business Council last week.

Out of this figure, Egyptian exports to Mexico reached $71 million, while imports from Mexico stood at about $52 million.

Egypt’s main imports items from Mexico include tubes, railway spare parts, steel, zinc, iron and oxides while the country mainly exports chemical fertilizers, ready-made clothes and carpets towards Mexico.

Therefore, Egypt positions itself as Mexico's third trade partner in Africa and attracted over $1.2 billion as Mexican investment. The beneficiary sectors include construction, cement, oil, energy and technology. In this regard, the Mexican multinational CEMEX is one of the largest investors in Egypt.

The Egypt-Mexico Business Council aims to boost trade and economic relations between both countries. According to Egyptian authorities, this cooperation platform will allow Mexican operators to invest in the economic zone of Suez Canal, the new administrative capital, as well as in many other sectors.

APPP2018 480x110 ENG

Due to ecosystem degradation, Africa loses $68 billion annually, a report from the...
Read more |  18 September 2018
AXA Assurance Maroc SA acquired stakes in Dabadoc, a Moroccan startup that...
Read more |  18 September 2018
Last weekend, Cradle Arc announced that its PL33/2005 and PL180/2008 prospecting permits...
Read more |  17 September 2018
Last Saturday, Egypt’s oil minister Tarek al-Moulla informed in a release that...
Read more |  17 September 2018
Blue Garnet Ventures, an investment company that invests in African companies specialized...
Read more |  17 September 2018
Tunisia plans to issue $1 billion Eurobonds at the beginning of October 2018...
Read more |  17 September 2018
Every payment above EGP100,000 (about $5,500) to government institutions should be done electronically...
Read more |  17 September 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.