Trade News
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Egypt, Jordan, Iraq FMs discuss stronger economic ties at Cairo meeting
The tripartite mechanism is an important platform as part of joint efforts to strengthen economic cooperation between the three countries.
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Government moves to solve Egypt’s cigarettes crisis
A reference was made to increasing the supply orders for raw materials, which contributes to increasing the volume of daily production.
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Egypt offers new lands to narrow $30 bln trade gap
Egypt's Industrial Development Authority (IDA) is set to offer for sale 1.7 million square metres of lands to investors.
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Egypt's largest tobacco producer to pump an extra 50 million cigarettes daily to face shortage
According to numbers released by Eastern Company, Egyptians spent EGP 17 billion on cigarettes during the 2021-2022 fiscal year.
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Egypt issues second tranche of export subsidies in ongoing phase, Trade Minister
A diverse range of 1,193 companies across various export sectors submitted applications for the second tranche of the initiative.
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Trade exchange bet. Egypt, Palestine hits $200M in 5 months
Egyptian exports to Palestine increased to $200 million during the first 5 months of 2023, compared to $177.9 million during the same period in 2022.
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Egypt adds 225 square kilometers to Ismailiyah Free Zone
Hossam Heiba visited earlier this week the in-progress expansion works of the Ismailiyah Free Zone as utilities are being introduced in 50 feddans.
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Egypt’s non-oil exports fall 17% YoY in H1
This decrease is attributed to the lack of the raw materials and production components needed for production.
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Egypt's trade deficit increases by 4.3% in May amidst export challenges
The CAPMAS noted that exports decreased by 20.9 percent during May, recording $3.38 billion, compared to $4.28 billion for the same month in 2022.
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Egyptian-Greek trade up 5% YoY in 2022
Egyptian exports to Greece saw a 5.3% YoY increase last year, valuing at $1.7 billion, versus $1.6 billion.
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Egypt introduces new custom facilities to boost exports
Egypt’s Ministry of Finance announced in a statement on Monday new facilities for customs declarations and transits.
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Trade exchange bet. Egypt, Jordan reaches $980.4M in 2022
The CAPMAS noted that Egypt’s exports to Jordan rose 24 percent during 2022, reaching $726.5 million during 2022, compared to $711.1 million in 2021.
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Egypt's Eastern Company likely to increase tobacco prices by 17% annually over 5 years
Egypt's largest tobacco producer Eastern Company is expected to raise prices by 16.9 percent annually through FY2027/2028.
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Egypt, Turkey propose signing industrial cooperation MoU
The MoU should include exchanging technical expertise and providing technical training, pre-university and university education.
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Egypt adds EGP 2 bln to 6th phase of exporters support initiative
The Egyptian Cabinet approved allocating an additional EGP 2 billion ($64.73 million) for the sixth phase of the cash repayment initiative.
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Egypt's tobacco exports reach $35.8 mln Jan-Apr
Egypt's tobacco exports reached $35.8 million during the first four months of 2023, according to data released by CAPMAS.
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Egypt, Turkey Agree to Raise Trade Exchange to $15 Billion
The ministry indicated that it was agreed to hold a joint committee meeting in the near future to expand the coverage of the existing agreements.
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Huffs in the tobacco market
Imbabi had earlier said the upcoming tax increase is expected to range from LE0.5 to LE2 depending on the tobacco brand.
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Trade exchange between Egypt, African countries climbs 14.4% YoY in 2022
According to data from the Egyptian Cabinet’s Information and Decision Support Center (IDSC).
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African leaders leave Russia summit without grain deal or path to peace in Ukraine
Russia-Africa summit said Russia's termination of the grain deal earlier this month caused a rise in grain prices that benefits Russian companies.