Trade exchange volume between Egypt, Brazil surges to $1.9bn in nine months

The volume of trade exchange between Egypt and Brazil rose to around $1.867 billion during the first nine months of 2017, said Egypt’s Trade and Industry Minister Tarek Qabil on Tuesday.

Qabil further added that the trade exchange earlier registered $1.478 billion during the first nine months of 2016.

Qabil made his remarks during a meeting with Brazil’s Minister of Foreign Relations Minister Aloysio Nunes Ferreira and the Minister of Foreign Trade and Services Marcos Antônio Pereira, on the sidelines of 11th Ministerial Conference of the World Trade Organisation (WTO).

The conference, which takes place from 11-14 December 2017 in Buenos Aires in Argentina, aims to boost the development of global trading system.

“Egyptian exports to the Brazilian market increased by 102 percent during the same period of 2017,” the Egyptian minister noted.

In the meeting, Aloysio Nunes Ferreira and Marcos Antônio Pereira said that Brazil is keen on strengthening common trade and investment relations with Egypt in different fields.