Trade between Egypt and Sweden up by 25% in 2020

Trade and Industry Minister Nevin Gamea said on Friday, that trade between Egypt and Sweden witnessed a remarkable increase of 25 percent during the year 2020 and amounted to about US$913.4 million, compared to US$734 million in 2019.

Gamea pointed out that trade relations between Egypt and Sweden were not affected by the coronavirus crisis. She noted that wood, machinery, equipment, vegetables, and fruits are the most prominent commodities exchanged between the two countries.

She also announced the beginnings of joint Egyptian-Swedish business forum that will aim to enhance industrial and commercial cooperation between the private sectors in each country.

Gamea stressed the importance of the pivotal role of business circles in Egypt and Sweden in strengthening trade and investment cooperation between the two countries during the next stage.

The announcement came during the expanded session of talks held by Gamea with the Swedish Minister of Foreign Trade, Anna Hallberg, and her accompanying delegation during their visit to Cairo.

Gamea further indicated the keenness of the two sides to enhance cooperation in the field of developing small and micro enterprises through the Medium, Small and Micro Enterprise Development Agency and its Swedish counterpart. This aims to provide financial and general support from Sweden to Egypt through international financing bodies across different sectors.

The meeting also reviewed the possibility of coordination between Egypt and Sweden during the Dubai Expo 2020, which is scheduled to open in the next few days. The two countries may organize joint events and hold business meetings between investors.

Edited translation from Al-Masry Al-Youm

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