Egypt-Italy Trade Hits US$6 Bln in 2014

The trade exchange rate between Egypt and Italy reached US$6 billion by the end of 2014, said Massimiliano Sponzilli Director of ICE, Italian Agency of Trade, Cairo.

The director added that Italy is the most important importer for Egyptian products including cotton, fruits, vegetables, plastic products and aluminum.

Sponzilli noted that Italy is Egypt’s first trade partner in EU, ranked fourth among Egypt’s investors and the third trade partner after China and USA.

This came during his participation in a workshop organized by Italian Chamber of Commerce named ‘HoMi ‘ a Business Opportunity to Boost Egyptian Exports to the European & International Markets”.

 This workshop has organized only 3 days prior to Egypt’s Economic Summit and 10 days preceding the visit of 100 Italian companies to Egypt. This indicates Italy’s keenness on developing economic ties with Egypt, Sponzilli noted.

Moreover, he added that Egypt has to look at Italy as the access gate for EU, assuring that Egypt is considered an exceptional partner in the Middle East as it is connected to many economics agreements with most international blocks.