Trade exchange with Slovenia grew 12% in 2015: Egypt’s Qabil

Egypt’s trade exchange with Slovenia  grew by 12 percent in 2015 to record around €161 million, Trade Minister Tarek Qabil stated Tuesday.

Egypt-Slovenia trade exchange soared by 344 percent since signing the EU-Egypt Association Agreement in 2004, the minister stated, adding that this increase reflects the deep trade ties between Egypt and Slovenia.

Qabil made these remarks during his speech at the Egyptian-Slovenian business forum held Tuesday with the attendance of Slovenian President Borut Pahor, Slovenian Infrastructure Minister, Peter Gašperšič, members of the Slovenian mission visiting Egypt, in addition to representatives of Egyptian and Slovenian business societies.

Minister Qabil clarified that Egypt’s agreement with the International Monetary Fund (IMF) reflects  global society’s trust in decisions made by Egypt’s government towards the economic reform.

Slovenian business society has to invest in Egypt not only to make use of its large market but also to benefit from the accessibility to a massive number of key markets, Qabil noted.

The Egyptian minister emphasised on the necessity of enhancing economic and trade ties with Slovenia to cope with the deep political, strategic, and historic mutual relation.

He clarified that the economic reform is the main priority of Egypt’s government to achieve sustainable development as pursuant to Egypt’s Vision 2030.

Qabil pointed out that both Egyptian and Slovenian business societies play vital role in enhancing joint investments and trade ties.

On other side, the Egyptian government targets achieving a 6 percent growth in the national GDP by financial year 2017-18, raising investment rates by 19 percent, in addition to lowering budget deficit to 8.5 percent by the end of financial year 2018-19, Qabil announced.