Egypt Targets $21 billion Agricultural Investments by 2020

Egypt is seeking to record agricultural investments of US$21 billion by 2020, an official from Egypt-Italy Green Trade Project.

The Green Trade project, funded by the Italian-Egyptian Debt for Development Swap Program, aims at increasing trade levels by enhancing exports of quality agro Egyptian produce, through Italy, towards the EU.

According to Mahmoud Bassiouny – coordinator of the Green Trade Project; the Egyptian agricultural sector contributes around 1.5% of the national gross domestic product (GDP).

Bassiouny made his remarks during the Euro-Mediterranean, Egyptian-Italian Agrifoods, Logistics & Transport Conference & B2B that is being taken place in Alexandria from December 6-7.

Egypt exports around 3.7 billion tonnes of agricultural products to 25 countries around the world, he noted, referring that the country achieved around EGP 13.7 billion worth of agricultural exports during 2013.

In Egypt, the agricultural manpower constitutes about 30% of the total manpower, the official elaborated pointing out the presence of promising investment opportunities for Egypt to enter more European and East Asian markets.

About the Green Trade Project, Bassiouny said it is devised within the framework of a debt swap program between Egypt and Italy, aims at backing Egyptian potentials in exporting fresh agricultural crops to the EU states through collaboration with Italy and developing the transport logistics system.