Cairo – Mubasher: The trade exchange value between Egypt and Oman hiked by 66% to $1.08 billion in 2022 from $651 million in 2021, according to an official statement.

Ahmed Samir, Egypt’s Minister of Trade and Industry, highlighted that Omani investments in the Arab Republic hit nearly $80.50 million over 110 projects. The investments were pumped across various sectors, including, agriculture, tourism, industry, finance, as well as communications and information technology.

Samir added that Egyptian investments in Oman reached about $860 million over 142 projects in road construction, infrastructure, sanitation, real estate, and tourism.

His remarks came during the Egyptian-Omani Business Forum that was held in Cairo on 22 May.

Last month, the minister indicated that the value of the bilateral trade between Egypt and Africa amounted to $2.11 billion in the first quarter (Q1) of 2023.