Kabil Meets EAEU Trade Minister in MoscowSource: www.export-egypt.com 5/23/2018, Location: Africa |
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 The agreement will make Egypt a hub for Eurasian countries to access Arab and African markets, as well as the EU and MERCOSUR.
On the sidelines of the Joint Egyptian-Russian Committee meetings held in Moscow, Minister of Trade and Industry Tarek Kabil met with Vernoika Nikishina, Eurasian Economic Commission trade minister, to discuss a timetable for the negotiations on a free trade agreement between Egypt and the Eurasian Economic Union (EAEU). Kabil said that the first round of talks will be held in September, emphasising that the FTA would boost trade and investments between Egypt and the EAEU member states, which include Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. Egypt, he added, has submitted a copy of the proposed draft FTA to the Eurasian Commission and is looking forward to the Eurasian Economic Council’s support to start and accelerate the process of negotiation. “The agreement will make Egypt a hub for Eurasian countries to access Arab and African markets, as well as the EU and MERCOSUR with which it enjoys various FTAs,” Kabil noted. He also encouraged the business community and industrial companies in the EAEU countries to invest in the Egyptian market where there are a growing number of mega projects, such as the new administrative capital and the Russian industrial zone. According to the ministry’s data, Egypt-EAEU trade grew significantly in 2017 hitting $6.9 billion. Main Egyptian exports to the Union states include: agricultural products, equipment, machinery and pharmaceuticals; while imports include: wheat, metals, chemicals, plastics, cars and tractors |
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