The Egypt-Ukraine Business Council (the Egyptian side) is exploring reciprocal trade prospects and means of increasing exports to Ukraine in various fields. The council is considering the application of a barter system in local currency swaps of Egyptian pounds against Hryvnias (the Ukraine currency), said Gamal Al-Egaizy, the chairman of the Egyptian side in the council, on Tuesday. In a recent business council meeting, Al-Egaizy said that the Hryvnia has also recently weakened against the US dollar, which is now equals 26 Hryvnia. Bilateral trade between Egypt and Ukraine reached US$2 billion in 2015. Egyptian exports to Ukraine reached US$27 million for the period between January to May 2016, while imports for the same period reached US$968 million.

Source: Egypt Independent November 24, 2016 08:48 UTC