Egypt’s Exports to EU Hit $2.4 Billion in Q1

Egypt's exports to the European Union (EU) amounted to $2.376 billion, while its imports amounted to $4.600 billion during the first quarter of this year, according to the Federation of Egyptian Chambers of Commerce (FEDCOC).

The Federation stressed the importance of enhancing the presence of Egyptian companies in European exhibitions in order to increase the volume of trade between Egypt and Europe, which is seeing a steady growth on an annual basis.

The EU highlighted, an a study conducted on trade, the importance of providing facilities for holding permanent foreign exhibitions of Egyptian products in Europe.

It added that it was important to keep abreast of all updates regarding European standards for imported goods.

FEDCOC called for strengthening the financial support provided to missions abroad, expanding the scope of participation in international exhibitions, and inviting specialized international companies to set up exhibitions in Egypt.

The study praised Egypt's strategy in attracting European investments, however it pointed to the need to take all precautions to face the economic recession, which is expected from the Brexit.

It also highlighted the need to pay attention to establish e-commerce centers in cooperation with the private sector.