The EU delegation to Egypt: Quarterly Trade and Economic Report from Egypt (July - September 2021)
Trade and Investment Developments:
– During the first half of 2021, EU-Egypt trade increased by ca. 18% compared to the same period of last year, with a pretty similar growth for both, EU exports to Egypt (+19%) and Egypt’s exports to the EU (+18%).
In November 2021, Egypt plans to host the fifth round of trade negotiations with the Eurasian Economic Union comprising Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan. The agreement is meant to promote cooperation with the above states in the fields of trade, industry, and joint investments. Bilateral trade between Egypt and the region reached USD 4.69 billion in 2020.
– Egypt and South Korea are currently negotiating the signing of an economic partnership agreement. Korean products represent ca. 90% of Egypt’s electronics imports. South Korean government has recently classified Egypt as one of its core priority countries for Official Development Assistance for the coming 5 years. In addition to bilateral economic cooperation, the two sides are also looking into exporting products to third countries (especially African market) that would combine Korean technology and Egypt’s local manufacture. The volume of trade exchanges between Egypt and South Korea reached USD 2 billion in 2020, up from USD 1.59 billion in 2019. Korean investment stock in Egypt amounts to ca. USD 581 million.