Minister of Trade and Industry Neveen Gamea asserted the importance of building strategic relations between Egypt and South Africa in a way that could contribute to the economic map of the African continent, underlining the importance of beefing up bilateral cooperation in all files of common interest.
This came during an expanded session of talks held by the minister with her South African counterpart Ebrahim Patel as they addressed means of beefing up trade and industrial cooperation.
The meeting was held on the fringe of Gemea’s participation in the second edition of the Intra-African Trade Fair (IATF-2021), which is currently in session in Durban, South Africa.
She also pointed out to the importance of finalizing the Cairo-Cape Town axis which could contribute to turning Egypt into one of the most important trade partners in Africa within a period of five years.
The minister also noted that the volume of trade exchange between the two countries stood at 139.5 million dollar in 2020, with the Egyptian exports amounting to 68.3 million dollar .
As many as 73 South African companies are operating in Egypt with a total capital of dlrs 270.20 million till June, 2020, she said.
Gamea also extended an invitation to her South African counterpart to visit Egypt to get briefed on the latest achievements and progress realized in the Egyptian economy at the various levels.
Source: State Information Service Egypt