Egypt-Italy trade exchange to hit €6bn in two years: minister

The volume of Egypt’s trade exchange with Italy is expected to reach around €6 billion during the upcoming two years, minister Tarek Qabil stated.

Egyptian-Italian trade exchange is estimated at around €5 billion annually, Qabil noted.

The minister made these remarks during a press conference held Thursday in the presence of the Italian Economic Development Minister Federica Guidi.

He said that the mutual relations are witnessing a development since Italy is considered as Egypt’s EU trade partner and the third globally.

Qabil clarified that the Italian imports to Egypt is estimated at 60% of the annual trade exchange.

He added that both Italian and Egyptian sides have discussed a number of investment and cooperation opportunities in trade, industry, irrigation, oil and gas fields in addition to some projects that could be executed with the Italian experiences.

On other side, an Italian delegation arrived to Egypt encompassing 30 firms that  work in furniture, energy, transport, power, and construction sectors to discuss investment opportunities in Egypt.