Egyptian Official Delegation Wraps up Visit to SomaliaSource: www.export-egypt.com 3/28/2018, Location: Africa |
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 Egypt-Somalia ties have grown significantly in recent years; exports to Somalia rose in 2017 to $90 million.
An Egyptian official mission concluded its visit to Somalia, where talks with government officials discussed means of boosting bilateral trade. The delegation included representatives of a number of Egyptian national bodies working in the fields of trade and banking. “Egypt-Somalia ties have grown significantly in recent years. Egypt’s exports to Somalia rose in 2017 to $90 million, compared to $53 million a year earlier,” Minister of Trade and Industry Tarek Kabil said, contributing this increase to mutual visits between the two countries. Egypt, he added, is looking forward to more integration with African states, especially in light of the Continental Free Trade Area (CFTA), which would hugely increase intra-African trade. Kabil also pointed out that the ministry has recently adopted a strategy to develop Egyptian exports to African countries within the next three years. The visits come within the memorandum of understanding signed between Egypt and Somalia in the fields of trade and industry, he noted. The ministry’s figures show that exports of food products to Somalia surged by 77%, to reach $33 million in 2017, increasing the number of food companies exporting to Somalia to 55. Likewise, pharmaceutical exports amounted to $7.1 million in 2017, compared to $5.84 million in 2016. |
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