Volume of Canada investments in Egypt is $3 bln

The volume of the Canadian investments in Egypt registered $3 billion according to Consul of Egypt Economic and Commercial Affairs in Montreal, Canada.

He told Amwal Al Ghad on the side lines of a seminar on the Canadian market organized by the Commercial Service office and the Food Export Council that there are around 450 Canadian companies operating in the Egyptian market in different fields mainly fertilizers, Tourism, information and technology and services sectors.

On the other hand, the trade exchange between Egypt and Canada registered $1 billion during 2016 increasing by 12 percent when compared to a year earlier.

Moreover, Egypt’s exports have increased by 30 % recording $ 780 million during the same period, thus, the trade balance has moved into surplus in favour of Egypt worth $250 million.

However, Egypt’s Exports of processed food to Canada have grown from $9 million in 2015 to $16 million in 2016.

On the other hand, A new program to breif small and medium Egyptian companies to export to Canada has been launched, El Baily added.

He said that the program is financed by a Canadian grant and will involve bringing a Canadian expert to explain to Egyptian companies the requirements of exporting to Canada.

It will also select 10 Egyptian companies, out of 25 nominated by the Food Export Council, to participate in SIAL Canada exhibition, the international food and beverage tradeshow that will be held in May 2018.

Bially said that the program will be expanded to include most export sectors as the Candian market is an important one that possesses big export opportunities.