According to Minister of Trade and Industry Tarek Kabil, Egyptian exports to the United Arab Emirates (UAE) and Turkey achieved a major breakthrough in 2016, registering $1.443bn, up from $1. Also, Egyptian imports from Turkey decreased by 12.9% from $3.125bn in 2015 to $2.733bn in 2016, reducing the trade deficit by $619m to reach $1.290bn in 2016, compared with $1.909bn in 2015—a 33% decline. In the UAE’s case, Egyptian exports increased by 125% in 2016 to reach $2.4bn from $1bn in 2015. The report has pinpointed that the witnessed increase during 2016 in Egyptian exports to the both Turkey and the UAE was the result of the promotional efforts for commercial representation offices to introduce Egyptian products to the Turkish and Emirati consumers. In the near term, Egypt targets boosting cotton yarns, medical supplies, tyres, and agricultural waste exports to Turkey, said Antar.

Source: Daily News Egypt March 25, 2017 14:03 UTC