Egypt’s exports to France upsurge 30% in 8M 2021

Egypt’s exports to the French market hit €516m in the period from January to August 2021, compared to €400m in the same period last year, with an increase of 30%, thanks to efforts by the Egypt Commercial Service (ECS) office in Paris, according to Egypt’s Ministry of Trade and Industry.

This increase contributed to a decrease in trade deficit between Egypt and France by 42% to reach about €620m in the first eight months of the current year compared to the same period last year.

The ECS in Paris, organized a virtual symposium on “Agricultural sector and agricultural products in Egypt”, in coordination with the Arab-French Chamber of Commerce in France, the French Chamber of Commerce and Industry in Egypt and The Global Diwan, with the aim of benefiting from the great French expertise in these sectors. As well as, large growth rates the Egyptian economy has achieved in the process of enhancing commercial cooperation between the two countries in commercial and agricultural fields.

The symposium was inaugurated by French Ambassador in Cairo, Marc Baretti, with the participation of Sayed Fouad, head of the ECS in Paris, representatives of more than 70 French and Egyptian companies specialized in the agricultural and food industries sectors, and a number of relevant French authorities.

Fouad reviewed developments that the Egyptian economy has witnessed in recent years, especially the positive indicators during COVID-19 crisis, the improved investment climate, and free trade agreements signed by Egypt to access Arab and African markets.

Additionally, French companies presented their activities in fields of agricultural and food products, as they welcomed exploring possibilities of enhancing cooperation with their Egyptian counterparts during the coming period, and working to increase Egyptian exports of agricultural products and crops to the French market.