Egypt’s exports to African countries hit $6B during 2023 |TradeMin

Egypt’s exports to African countries witnessed an increase of 13% during the period from January to October 2023, to reach $ 6 billion.

This came during the meeting between Minister of Trade and Industry, Ahmed Samir, and Prime Minister, Mostafa Madbouly, to discuss ways of bolstering Egypt’s trade exchange with African countries. 

Egypt accounts for the largest share of the volume of intra-trade within the Common Market for Eastern and Southern Africa (COMESA). Additionally, the volume of trade exchange between Egypt and the countries of the group reached its highest levels in 2022, reaching $4.3 billion, the trade minister added.

Within the scope of increasing the availability of Egypt’s exports within African markets, Egypt was one of the first countries to sign the African Continental Free Trade Agreement.

In the meeting, Samir discussed the proposed strategies for creating integrated Egyptian commercial centers in Africa. He mentioned that the approach relies on leveraging the resources of Al-Nasr Company for Export and Import, which owns assets in several African nations, to establish Egyptian commercial hubs in those regions.

The minister clarified that for Kenya, the intention is to utilize a 2,100 square meter plot of land owned by Al-Nasr Company in Nairobi, the capital, to establish the "Egyptian Logistics Center." This center will offer storage and handling services specifically for Egyptian exports.

Regarding Tanzania, Samir highlighted the ministry's proposal to establish an Egyptian commercial center in the city of Dar es Salaam. Emphasizing the significance of having warehouses, the aim is to facilitate the availability of current Egyptian goods in the area.

Earlier in November, the report of the Central Agency for Public Mobilization and Statistics (CAPMAS) indicated that the total value of Egypt’s exports to COMESA countries increased by 15.6% in 2022, to reach $3.544 million, compared to $3.066 million in 2021.