Egypt’s trade with Mercosur states surges by 23% in January

Trade exchange between Egypt and the Mercosur countries has increased  by $316 million in January 2018 compared to $242 million a year earlier increasing by 23.4 percent.

Trade and Industry Minister Tarek Qabil underlined Egypt’s keenness on enhancing commercial ties with the Mercosur bloc’s market which is considered an important and promising future economic partner for Egypt.

On the other hand, the volume of trade exchange has decreased by 3.8 percent during last year recording $4.5 billion compared to $4.7 billion a year earlier.

Mercosur is an economic and political bloc comprising Argentina, Brazil, Paraguay, and Uruguay.

The Southern Common Market (MERCOSUR), considered one of the most effective trade pacts in the region, is made up of Argentina, Brazil, Paraguay, Uruguay and Venezuela; and has associated countries like Bolivia, Chile, Colombia, Ecuador, and Peru.