Latest in Trade Highlight
Latest in Trade
Egypt, Afreximbank discuss strengthening cross-border trade in Africa
Egypt’s Minister of Trade and Industry Nevine Gamea held a digital meeting with President of African Export and Import Bank (Afreximbank) Benedict Oramah
Egypt’s chemicals, fertilisers exports reach $4.165bn in 10M of 2020: Abul Makarem
The Chemical Industries Export Council, headed by Chairperson Khaled Abul Makarem, has announced that Egypt’s chemicals and fertilisers exports during the first ten months (10M) of 2020 amounted to about $4.165bn.
Egypt, Jordan, Iraq coordinate on activating tripartite industrial, commercial integration
Egypt’s Ministry of Trade and Industry has commenced coordinating with Jordan and Iraq on activating industrial and commercial integration between the three countries.
Egypt’s Sovereign Fund aims to boost private sector investment in internal trade
The Internal Trade Development Agency (ITDA) and The Sovereign Fund of Egypt (TSFE) have signed a cooperation protocol to encourage private sector participation in the agency’s investment opportunities.
Egypt halts ceramics, porcelain imports for 3 months
Decision aims to protect local productivity rates from fallout due to COVID-19 pandemic
NBE leads banking alliance to provide EGP 2bn in financing to Oilex
The National Bank of Egypt (NBE) is leading an alliance of banks working in the Egyptian market to arrange an increase in financing for Oilex, an Egypt-based international company for the extraction of multiple forms of oils.
E-commerce market in Egypt estimated at EGP 40bn: Official
Ibrahim Ashmawy, Head of the Internal Trade Development Authority, said that coronavirus contributed to the growth of e-commerce
Source Beauty lands six-figure seed round led by Geneva-based ACE & Company
Beauty e-commerce platform will use funds to support further growth in Egyptian market
Egypt’s Banque Misr, Commercial Service join forces to boost exports
Egyptian Commercial Service (ECS) and Banque Misr have signed a cooperation protocol to launch finance programmes for supporting Egyptian exports to global markets in general, and Africa in particular. Egypt’s Minister of Trade and Industry Nevine Gamea and Vice Chairperson of Banque Misr Akef Al-Maghrabi witnessed the signing ceremony of the cooperation protocol. Gamea said …
Cairo Chamber of Commerce calls for full inspection of auto spare parts imports
ECA’s decision to inspect only 10% of each shipment to facilitate customs pre-release procedures, however it will harm local market: Desouky Salem
UK-Africa Investment Summit to kick off in January 2021
New trade agreements between UK and 14 African partners to come into force next January. Egypt signed its trade agreement with the UK in early December
Egypt’s trade deficit declines 32.4% in September 2020
Egyptian imports decreased by 21.3% to $5bn in September 2020, versus $6.4bn in September 2019, which led to the decline in Egypt’s trade deficit
1,137 requests for lump-sum payment of export subsidy dues reviewed: Official
It comes as part of the lump-sum payment initiative recently announced by the Egyptian government, to settle the delayed dues of companies with the fund.
Egyptian exports to Japan surge 76% in 5M 2020
Japanese Ambassador invites Egypt to participate in Expo 2025 in Osaka
Egypt, UK sign deal to continue preferential trade treatment
Trade agreement highlights strength of UK-Egypt partnership, reflects shared ambition, says British Foreign Secretary Dominic Raab
Investors to start receiving lump-sum payment of export subsidy dues on Sunday: Gamea
Fund receives applications from 903 exporting companies, submission to continue until end-November, says Minister Nevine Gamea
Expolink, ABCC to maximise growth opportunities for Egypt-Brazil trade
The MoU’s signing took place on the final day of the virtual Economic Forum of Brazil and Arab Countries, which took place from 19 to 22 October. It was organised by the ABCC in partnership with the Arab League and the Union of Arab Chambers.
Egypt’s trade deficit decreases by 51.8% in July
The value of the trade deficit amounted to about $2.28bn in July 2020, compared to $4.73bn in the same month of the previous year.
Egyptian government to pay exporters’ dues in cash at 15% discount
153 exporting companies received first batch of dues worth EGP 1.8bn
Trade Ministry announces resolution to impeded Egyptian exports in Kenya
Egyptian Commercial Service in Kenya coordinated with Kenyan authorities to life tariffs
Egypt sees 26% increase in domestic tourism searches during summer: BCG
The report, entitled “The Measures Tourism Marketing Companies Must take in light of COVID-19”, was launched by BCG in cooperation with internet search platform Google.
CBC engages with COMESA, Kenya to address trade impediment
Further concerns have been raised regarding the cancellation of pre-existing orders due to the measures Kenya has imposed, namely the non-preferential customs duties that are applied on COMESA origin goods.
Kenya imposes 25% customs on Egypt exports, violating COMESA agreement
Trade exchange between Egypt and COMESA countries stands at approximately $2.5bn
Egypt reports 8.6% decrease in trade deficit during June 2020: CAPMAS
Egypt sees trade deficit of $3.30bn in June 2020
Egypt’s exports likely to increase to $100bn annually in 3 years: analysts
Though it is a big dream to reach $100bn of exports, Egypt has carried out recently some mega projects that seemed very difficult at the beginning to be fulfilled
How to avoid the losses in the CFD trading business
Joining the CFD market is a very easy task but making consistent profit in the market is a very tough one
Egypt’s Importers Division reports sector’s problems to FEDCOC
Indicative prices relating to Egyptian customs have caused significant local price hikes, especially for low-income consumers, says Division of Importers member
Egypt non-durable consumer goods imports plunge 19.7% in 5M 2020: CAPMAS
Imports of medicines and pharmaceuticals recorded a decrease of 12.7%
Egypt sees 36.2% decrease in May trade deficit: CAPMAS
The report, issued on Wednesday, noted that the country’s trade deficit stood at $2.59bn during May 2020, down the $4.05bn in May 2019
Egypt-Canada trade exchange reaches $1.7bn: El-Said
Increased cooperation needed in various fields, such as AI and information exchange, says El-Said