$1.74bn volume of trade exchange between Kuwait, Egypt in 2017: Nassar
Minister of Trade and Industry, Amr Nassar, said that Kuwait is considered one of the most important trading partners for Egypt.
He explained that it is Egypt’s third largest trading partner in the Arab world after the UAE and Saudi Arabia, pointing out that the volume of trade exchange between the two countries reached about $1.74bn during 2017, of which about $363m are non-oil commodities.
The minister’s remarks came during the Egyptian-Kuwaiti Cooperation Forum that was held in Kuwait on Wednesday.
Nassar added that Kuwait is ranked fourth among the largest investment countries in Egypt with 1,227 joint investment projects, with a Kuwaiti contribution of $3.7bn.
“These investments are concentrated in the fields of tourism, industry, finance, real estate, telecommunications, information technology and agricultural investment,” he explained further.
He affirmed that these figures are not in line with the level of the relations between both countries, noting that Egypt looks forward to deepen these relations and increase the contribution of the private sector in both countries under the umbrella and encouragement of the Egyptian and Kuwaiti governments.