Saudi Arabia-Egypt trade exchange amount to $4.3 billion in 2016: minister

Egypt’s trade exchange with Saudi Arabia had amounted to around $4.3 billion during 2016, Egyptian trade minister Tarek Qabil said Sunday.

Egypt mainly exports to the Saudi kingdom iron and steel, agricultural products, fruit, dairy products, cables, and electrical devices, while it imports petroleum and chemical products, Qabil added.

Saudi Arabia tops the list of Arab investors in Egypt, with investments worth more than $6 billion through 3,421 projects in sectors of manufacturing, services, construction, housing, information technology, communications, agriculture, tourism, and transportation, the Egyptian minister stated.

Meanwhile, Egypt’s investments in Saudi Arabia amount to $2.5 billion approximately through 1,300 projects in sectors of construction, communications, healthcare, and manufacturing, Qabil said.