Cairo – Mubasher: Trade exchange between Egypt and Sweden has reached EUR 644 million in 2017, Egyptian trade minister Tarek Kabil said in a statement on Monday.

The North African nation's exports to Sweden include carpets, fruits, vegetables, food, clothing, furniture, Ceramic, and glass, while its imports include woods, electronics, vehicles, papers, dairy products, and medicines, Kabil highlighted.  

Sweden investments in the Arab world's most populous country amount to about $141 million in 146 projects in the industrial, telecoms, information technology, financing, construction, services, tourism, and agricultural sectors, the minister added.

This came on the sidelines of the minister’s meeting with the minister for European Union affairs in Sweden Ann Linde, who is currently visiting Egypt.

Kabil indicated that Egypt’s small- and medium-enterprises development authority will sign a memorandum of understanding (MoU) with the Swedish-Swiss ABB Group to reinforce mutual cooperation between both countries in the fields of technical training and energy conservation.

For her part, Linde said that her visit to Egypt aims at displaying the latest economic developments in Egypt, as well as considering economic collaboration and common interest.

Egypt is Sweden’s largest export market in Africa and the second largest market in the Middle East and Africa, she pointed out.

Some of the Swedish firms investing in Egypt have started to expand into the market of the import-dependent nation, including ABB Group which is currently planning to take part in the execution of the electricity interconnection projects between Egypt and Saudi Arabia, Greece, and Cyprus, she continued.