Czech, Egypt federation of industries sign cooperation protocol

The Federation of Egyptian Industries (FEI) and the Confederation of Industry of the Czech Republic (Spcr) have signed a cooperation protocol, head of the SME projects committee at FEI, Walid Gamal El-Din announced Sunday.

The protocol aims to exchange expertise and help Egyptian and Czech investors to both their businesses in those markets.

Gamal El-Din further referred that trade exchange between Egypt and Czech registers US$ 500 million annually.

The Czech minister of industry will be visiting Egypt within two months to boost bilateral industrial cooperation between the two countries, the Egyptian official added. During the anticipated visit, the Czech minister will also discuss with Egyptian officials means to strengthen the volume of trade exchange between the two nations.

In the field of trade Egypt has been a traditional partner for the Czech Republic. Equipment from the Czech Republic to Egypt was successfully delivered mainly for power generation and distribution units, for irrigation systems and water treatment plants and there are many plants for sugar cane processing in Upper Egypt completely delivered and installed by Czech manufacturers. Nowadays, Škoda cars are running in streets of Cairo and other Egyptian cities. On the other hand, Egyptian cotton and textile products are well known in the Czech Republic.

However, nowadays trade exchange between the Czech Republic and Egypt is still beyond tradition and existing potential. Many changes in economic development of both countries caused a decrease in their trade exchange during last few years and a lot has to be done to improve it.

Table below demonstrates statistics of the Egypt-Czech trade exchange in the last six years, according to the Czech embassy in Cairo’s website.

Trade statistics (in mil/USD):

 

Volume

Export to Egypt

Import from Egypt

2010

291,915

252,473

39,442

2011

272,775

195,945

76,830

2012

296,089

222,348

73,742

2013

378,897

285,907

92,972

2014

545,503

448,315

97,618

1.7.2015

304,060

255,925

48,135

 

Top 10 Traded Goods – Export to Egypt (in mil/USD):

 

Goods

2014

1.7.2015

1.

Cars

248,442

141,415

2.

Reactors, Boilers

61,489

49,794

3.

Data procesing machines, TV

26,513

18,578

4.

Defence material

22,640

2,654

5.

Iron and Steel products

16,351

4,854

6.

Glass

11,251

6,246

7.

Locomotives, mechanical equipment

7,755

0,998

8.

Sugar and sweets

7,452

6,496

9.

Plastics

7,180

4,550

10.

Rubber

4,234

3,092

 

Top 10 Traded Goods – Import from Egypt (in mil/USD):

 

Goods

2014

1.7.2015

1.

Wool, aminal hair

22,371

11,664

2.

Data processing machines, TV

15,948

9,439

3.

Nonvowen textiles

8,897

2,391

4.

Cotton yarn

7,468

2,807

5.

Chemicals

6,660

2,060

6.

Textiles knitted, crocheted

6,312

3,376

7.

Fruits and nuts

5,132

2,885

8.

Textiles other that knitted

3,416

1,964

9.

Vegetables

2,476

1,543

10.

Carpets

2,376

1,470

 

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