Egypt’s trade with Mercosur states records $3.3 bln annually

The trade exchange volume between Egypt and the Mercosur  bloc countries registers $3.3 billion annually , Tarek Qabil, the minister of industry and trade said.

He made the remarks on the side lines of the preparatory session of  the ministerial meeting of the Mercosur bloc in Brazil on the behalf of President Abdel Fatah al-Sisi.

Kabil stressed the importance of intensifying efforts to achieve a balance in trade between the two sides, which is considered to be an important economic bloc and promising future economic partner.

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.

Today, foreign and finance ministers, and central bank presidents, members of the Common Market Council, will meet, while the Summit of heads of State and the associate States will take place on Thursday.