£1.858bn value of trade exchange between Egypt, Britain in 2017

Trade exchange between Egypt and Britain amounted to £1.858bn last year, according to Egyptian Trade and Industry Minister Tarek Kabil.

Kabil added that the value of trade exchange between the two sides reached £447m during the first quarter of this year, an increase of 7.7% compared to the same period of 2017, which amounted to £414.8m.

Kabil noted that the most important British investments in Egypt are based on the sectors of industry, services, construction, tourism, finance, agriculture, telecommunications, and information technology.

Both ministers welcomed the agreement reached between the EU and UK at the March European Council that the UK is to be treated as a member state for the purposes of international agreements during the EU-UK implementation period (1 April 2019 to 31 December 2020). This provides further certainty for both British and Egyptian traders that there will be no disruption to the existing trading relationship during the implementation period.