A comprehensive strategic plan to improve Egypt’s trade relations with Africa has been finalised, Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour said Monday.
Abdel Nour added that various Egyptian products will be marketed in African companies, based on the needs of each country.
He highlighted that the plan tackles industrial, investments, health and educational goals along with housing projects.
Factors that will be taken into consideration will include the volume of imports of each country and its potential capacity to increase its exports, Abdel Nour said. The availability of transportation means to these countries, as well as storage capabilities and the political situation, were also taken into account when placing the plan.
Between 7 and 10 June, Egypt held a conference with several African blocs, including the COMESA, the East African Community (EAC) and the Southern African Development Community (SADC), to activate the tripartite agreement.
COMESA Secretary General Sindiso Ngwenya told Daily News Egypt that the trade balance is expected to increase by $10bn to $20bn. The total tripartite exports in 2013 amounted to $285bn, while the imports in the same year amounted to $310bn.