Egypt's Exports to Africa Rises by $1.1 Bln

Egyptian exports to Africa rose to $ 4.7 billion at the end of 2018, compared to $ 3.6 billion in 2017, with a growth rate of $ 1.1 billion, according to a report by the Ministry of Trade and Industry.

The report said that it is intended to increase the volume of exports to the continent over the coming periods, following the directives of the political leadership for more commercial cooperation with African countries.

The report added that the government is currently providing the necessary marketing studies in all sectors. It also provides all information for exporters on the most promising sectors in Africa and the products they will export to these markets.

The ministry pointed out that this comes along with tenders by African governments and related to areas where Egypt can compete and present itself to the countries of the continent as a development partner, especially in Ethiopia, Tanzania, Djibouti, and Ghana.

The African Free Trade Agreement (FTA) came into force on May 30, 2019. It appeared after the member states met the ratification required for implementation, and completed the technical issues for practical application. It will start its official work by January 2020.

AfCFTA agreement aims to ease the trade exchange between the countries that signed it according to a scheduled timeline and not through an immediate activation of the agreement. It comes as the biggest deal ever signed since establishing the World Trade Organization (WTO) by 43 countries.