France-Egypt 2016 trade exchange hit €2 billion: minister

The volume of trade exchange between Egypt and France rose to €2 billion ($2.1 billion) during 2016 amidst plans to witnessing more in the future, Egyptian Minister of Industry Tarek Qabil said Tuesday.

Indicators suggest that the Egyptian exports to France had risen by 6 percent throughout 2016, Qabil added during the Egyptian French Business Council’s meeting held in Paris.

The French investments in Egypt had reached €4.2 billion by the end of 2016, he stated, saying the Egyptian government is keen to attract more in the coming period triggered by the recent economic reforms including the liberlisation of the local currency.

“The private sector in Egypt and France is a main player in bolstering the economic and investment relations between the two countries,” the Egyptian minister said.