$1.74bn vol­ume of trade ex­change be­tween Kuwait, Egypt in 2017: Nas­sar

The Daily News Egypt - - News -

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.

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