Egypt, Italy post trade exchange of €5 bln annually

Trade exchange between Egypt and Italy account for €5 billion ($5.5 billion) annually, according to economic and commercial counsellor at the Italian embassy in Cairo, Pietro Tombachini.

Italy is current Egypt’s number one EU trade partner, Tombachini said during signing a cooperation protocol between the Italian and Cairo chambers of commerce on Wednesday.

Italy has become the biggest largest importer of Egypt’s petroleum and non-petroleum products since 2007. Therefore, Egypt exerts considerable efforts in developing its economic and commercial relations with its Italian partner, he added.

The Italian market remains the primary EU destination for Egyptian exports, Tombachini said pointing out that textiles and agricultural exports are on top of Egyptian exports to Italy.