Egypt, Ukraine trade exchange exceeds $2B in 2017

Trade Exchange between Egypt and Ukraine exceeded $2 billion in 2017, Ambassador of Ukraine to Cairo Hinadi Lati stated on Wednesday during his meeting with the Egyptian Minister of Public Enterprise Khaled Badwi.

Lati refereed to the rise of Egyptian exports to Ukraine in 2017, clarifying that Egypt is one of the most important economic and political partner in the Middle East to Ukraine.

The ambassador emphasized the interest of Ukrainian Companies to cooperate with companies affiliated to the Public Enterprise Ministry.

During the meeting, Lati represented a number of investment projects that Ukrainian Companies participated in them in Egypt.

Minister Khaled Badwi said that the Ministry intends to develop all its companies to increase productivity, improving quality and Competitiveness.

Egypt and Ukraine will arrange meeting between Ukrainian and Egyptian Companies to discuss the cooperation between them.

Generally, the Central Agency for Public Mobilization and Statistics (CAPMAS) said earlier that Egypt’s petroleum and non-petroleum imports declined by $2.1 billion in 2017, recording $66.02 billion, compared to $68.14 billion in 2016.

In the first 10 months of 2017, Egypt’s imports dropped $4.1 billion year-on-year to stand at $53.88 billion, compared to $58.04 billion in the same period of 2016.

While in December 2017, imports increased 17.6 percent to $5.77 billion, compared to $4.91 billion in December 2016.

Exports rose 23 percent, reaching $2.47 billion in December 2017, compared to $2.01 billion in the same month of the previous year.