British investments in Egypt posts $5.4bln: Nassar

Minister of Trade and Industry Amr Nassar said that British investments in Egypt hit around$ 5.4 billion in oil& gas, fertilizers, financial counseling, agriculture, cement, food products sectors.

Nassar held a meeting with British Trade Representative Jeffery Donaldson. The meeting  tackled the future economic cooperation between the two countries in light of the Brexit.

Nassar added that the trade exchange between the two countries has increased by 7 percent in 2017 registering $2.491 billion compared to 2.325 billion a year earlier.

The minister added that bilateral relations are strategic and based on mutual understanding and joint action in all fields.

Egyptian exports to Britain include oils, fertilizers, clothes, chemicals, iron and steel and furniture, he said.

Imports from Britain include medical drugs, industrial and mechanical engineering equipment and machines, he added.

Donaldson said that stability that the Egyptian economy enjoys sends positive messages to the British business community for starting more joint investment projects in Egypt.

He further underlined the importance of activating the role of the Egyptian-British Business Council and the British Chamber of Commerce for pushing up bilateral trade and investment relations to unprecedented levels.