Egypt-UK trade agreement to take effect December 31 – UK envoy

UK Trade Envoy to Egypt Sir Jeffery Donaldson on Thursday said the new Egypt-UK trade agreement will take effect on December 31.
Based on the EU-Egypt Association Agreement, the deal is to be the framework organising bilateral trade ties after Brexit, Donaldson added.
Egypt is a growing market and the UK is seeing its great opportunities, the British envoy said, stressing that the North African country is one of the fastest-growing markets in the world.
“We are keen on expanding our investments in Egypt and to enhance the trade ties between the two countries in the future. The UK is looking forward to expanding its businesses and trade operations outside the European Union after Brexit,” Donaldson said during a virtual panel held as part of Egypt’s Week in the UK that kicked off on Monday.
He added that the UK’s current investments in Egypt amount to $5.5 billion, adding that the kingdom is working to implement more projects in the Egyptian market.
highlighted the importance of the Suez Economic Zone in connecting Egypt with world markets, adding that the
Donaldson said the UK is looking at the Suez Economic Zone as an ideal location to penetrate markets importing to and exporting from the kingdom.
He urged the British business community to exploit the opportunities the zone is providing to expand their businesses and reach the markets they need.
“We are working on attracting Egyptian investments to the UK market as well. We believe in Egypt’s future and our trade ties will be stable over the years,”