Egypt: $ 1.7 billion exports to COMESA countries, 34% of which are food industries

Published 2021년 4월 28일

Tridge summary

In 2019, Egypt's exports to COMESA countries, including 21 African nations, rose to $1.683 billion from $1.522 billion in 2018, while imports increased to $945 million from $737 million. Egypt was the largest exporter among COMESA countries, with the food industry sector accounting for 34% of its exports. However, there are challenges such as non-tariff restrictions, market access, financing, and transportation that need to be addressed. To mitigate these challenges, the Regional Payment Settlement System (RRPSS) and a company to guarantee export risks to Africa have been established. Initiatives like the navigational link initiative and the Jusoor project aim to facilitate intra-African trade by providing transport and logistics services.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Zainab Mamdouh, Director of the Africa Department in the Trade Agreements Sector at the Ministry of Trade and Industry, said that the value of Egypt's exports to COMESA countries rose to about $ 1.683 billion in 2019 compared to $ 1.522 billion in 2018, and imports from those countries increased to about $ 945 million, compared to $ 737 million. She added, during the symposium organized by the Food Industries Export Council under the title “On COMESA Reality and Application,” that Egypt's exports to COMESA countries represent about 45% of its total exports to African countries, which recorded that year about $ 4.767 billion, compared to imports worth $ 2.096 billion. The Common Market Agreement for Eastern and Southern African Countries “COMESA” includes 21 countries following the accession of Tunisia and Somalia, and they are “Egypt, Kenya, Sudan, Mauritius, Zambia, Zimbabwe, Djibouti, Malawi, Madagascar, Rwanda, Burundi, Comoros, Libya, Seychelles, Uganda.” , Eritrea, Congo, ...

Source: Amwalalghad