Egypt trade with US rises 29.2% in seven months

Trade exchange between Egypt and the United States rose 29.2 percent during the first seven months of this year.

Egypt’s Trade Minister Amr Nassar said during a meeting with the US Egypt Business Council that trade exchange reached $3.8 billion, compared with $2.96 billion for the same period last year.

Nassar also indicated that the US is one of the major markets for Egyptian imports, which totalled $832 million in the seven-month period.

American investments in Egypt now stand at $2.4 billion, distributed over 1,222 projects across various sectors, accounting for nearly 35.4 percent of American investments in Africa, and 46.2 pen the Middle East.

Egypt is the biggest receiver of American investment in the continuent and the second in the MENA region, Nassar added.