Shiite Tide Rumors Halt Trade Exchange Between Egypt, Iran In 2013

In the last ten years, the Egyptian exports to the Iranian market had completely tumbled to reach the lowest rates. The exports during the first quarter of 2013 recorded EGP 37 million, compared to EGP 207 million at the same period of 2013; pursuant to sources from the Foreign Trade Sector to “Amwal Al Ghad”.

This decline concurred with the accusations of the Shiite Tide that directed by some Egyptian figures to Iran following Mahmud Ahmadinejad’s visit to Cairo. The visit brought about weakening the commercial relations between Egypt and Iran, although the mutual presidential visits between the two countries to build new economic cooperation.

The Egyptian exports to the Iranian market in the first quarter of 2013, according to the sources, were food commodities at EGP 28 million, while EGP 7 million were other exports. The agricultural crops sector is the biggest loser because of spoiling the commercial relations between the two countries, as this sector recorded EGP 150 million in the first quarter of 2012.