EU mulls new €10 mln trade programme to Egypt

The European Union is in talks on a new trade programme agreement with the Egyptian Ministry of Trade, a senior official at the block said on Sunday.

Designed to promote trade between Egypt and the EU, the newe programme is set to be about €10 million ($11.15 million), said Ibrahim Laafia – head of cooperation at EU Delegation to Egypt.

EU is one of Egypt’s largest trading partner, managing development cooperation portfolio of over €1.1 billion annually, said Egyptian Minister of Trade and Industry Amr Nassar.

Egypt’s trade volume with the EU constitutes about 30 percent of its global merchandise trade, Nassar added at the closing ceremony of the EU-funded Trade and Domestic Market Enhancement Programme (TDMEP).