Australia-Egypt trade exchange reached $484mn in 2015: Minister

The total volume of trade exchange between Egypt and Australia reached around US$484.4 million in 2015, Trade Minister Tarek Qabil said Tuesday.

He made these remarks during his meeting with Australian Ambassador to Egypt, Neil Hawkins to discuss means of enhancing joint economic cooperation in different fields.

Both sides discussed means of boosting trade exchange rates as well as joint investment projects between Egypt and Australia.

Qabil and Hawkins discussed enhancing the accessibility of Egyptian agricultural exports to Australian market.

The minister pointed out to the necessity of facilitating movement of logistics transport between two states to raise the competitiveness of Egyptian products in Australia and Australian products in Egyptian market.

The number of Australian firms investing in Egypt is estimated at 98, Qabil announced, clarifying that they invest US$163.8 million in services, industry, building, and construction sectors.

Moreover, the minister emphasised on the importance of expanding Egyptian-Australian investments in mining field and making use of Australian massive expertise in such field.