Trade exchange between Egypt & UK increases by 44.7% | TradeMin

Samir pointed out that the rates of trade exchange between Egypt and the UK have witnessed significant progress, as the volume of trade between the two countries reached almost GBP 3.4 billion in 2022

By: Business Today Egypt

Tue, Sep. 26, 2023

Within the scope of boosting bilateral relations between Egypt and UK, Minister of Trade and Industry, Ahmed Samir, met with the British Prime Minister's trade envoy, Jeffrey Donaldson, to Egypt.

During the meeting, Samir pointed out that the rates of trade exchange between Egypt and UK have witnessed significant progress, as the volume of trade between the two countries reached almost GBP 3.4 billion in 2022, compared to GBP 2.3 billion in 2021. He added that the Egyptian exports to UK increased by 83% to record GBP 1686 million in 2022, compared to GBP 921 million in 2021.

Trade minister added that Egypt achieved for the first time a surplus in the trade balance with the UK valued by GBP 57 million in 2022, compared to a deficit in the trade balance valued by GBP 448 million in 2021.

Samir declared that the meeting discussed opportunities and possibilities for enhancing cooperation between the two countries in food security projects that include agriculture, food industries, and agricultural manufacturing, as well as drug security projects that include the drug industry, pharmaceutical preparations, medical supplies and devices, and health care, in addition to modern construction technology projects.