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Egypt-Spain trade exchange nears EUR 2bn in 9M

Egypt-Spain trade exchange nears EUR 2bn in 9M
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Cairo – Mubasher: The trade exchange between Egypt and Spain increased by 23.8% to EUR 1.96 billion during the first nine months (9M) of 2021 from EUR 1.58 billion in 9M-20, Egypt’s Minister of Trade and Industry, Nevin Gamea, stated.

Spain has been the second largest trading partner, among the European Union (EU) members, for Egyptian exports during 2020 and 2021, Gamea added in a Wednesday statement.

Egypt’s non-petroleum exports to Spain grew by 84.4% to total EUR 700 million in 9M-21, compared with EUR 379.5 million in 9M-20.

Until the beginning of 2020, Spanish investments in Egypt amounted to EUR 826 million that was pumped into 280 different projects.

As for the energy and renewable energy sector, a Spanish company helps in producing 80% of Egypt’s renewable energy, according to the Cabinet statement.