The Federation of Egyptian Industries (FEI) and the Confederation of Industry of the Czech Republic (Spcr) have signed a cooperation protocol, head of the SME projects committee at FEI, Walid Gamal El-Din announced Sunday.
The protocol aims to exchange expertise and help Egyptian and Czech investors to both their businesses in those markets.
Gamal El-Din further referred that trade exchange between Egypt and Czech registers US$ 500 million annually.
The Czech minister of industry will be visiting Egypt within two months to boost bilateral industrial cooperation between the two countries, the Egyptian official added. During the anticipated visit, the Czech minister will also discuss with Egyptian officials means to strengthen the volume of trade exchange between the two nations.
In the field of trade Egypt has been a traditional partner for the Czech Republic. Equipment from the Czech Republic to Egypt was successfully delivered mainly for power generation and distribution units, for irrigation systems and water treatment plants and there are many plants for sugar cane processing in Upper Egypt completely delivered and installed by Czech manufacturers. Nowadays, Škoda cars are running in streets of Cairo and other Egyptian cities. On the other hand, Egyptian cotton and textile products are well known in the Czech Republic.
However, nowadays trade exchange between the Czech Republic and Egypt is still beyond tradition and existing potential. Many changes in economic development of both countries caused a decrease in their trade exchange during last few years and a lot has to be done to improve it.
Table below demonstrates statistics of the Egypt-Czech trade exchange in the last six years, according to the Czech embassy in Cairo’s website.
Trade statistics (in mil/USD):
|
|
Volume |
Export to Egypt |
Import from Egypt |
|
2010 |
291,915 |
252,473 |
39,442 |
|
2011 |
272,775 |
195,945 |
76,830 |
|
2012 |
296,089 |
222,348 |
73,742 |
|
2013 |
378,897 |
285,907 |
92,972 |
|
2014 |
545,503 |
448,315 |
97,618 |
|
1.7.2015 |
304,060 |
255,925 |
48,135 |
Top 10 Traded Goods – Export to Egypt (in mil/USD):
|
|
Goods |
2014 |
1.7.2015 |
|
1. |
Cars |
248,442 |
141,415 |
|
2. |
Reactors, Boilers |
61,489 |
49,794 |
|
3. |
Data procesing machines, TV |
26,513 |
18,578 |
|
4. |
Defence material |
22,640 |
2,654 |
|
5. |
Iron and Steel products |
16,351 |
4,854 |
|
6. |
Glass |
11,251 |
6,246 |
|
7. |
Locomotives, mechanical equipment |
7,755 |
0,998 |
|
8. |
Sugar and sweets |
7,452 |
6,496 |
|
9. |
Plastics |
7,180 |
4,550 |
|
10. |
Rubber |
4,234 |
3,092 |
Top 10 Traded Goods – Import from Egypt (in mil/USD):
|
|
Goods |
2014 |
1.7.2015 |
|
1. |
Wool, aminal hair |
22,371 |
11,664 |
|
2. |
Data processing machines, TV |
15,948 |
9,439 |
|
3. |
Nonvowen textiles |
8,897 |
2,391 |
|
4. |
Cotton yarn |
7,468 |
2,807 |
|
5. |
Chemicals |
6,660 |
2,060 |
|
6. |
Textiles knitted, crocheted |
6,312 |
3,376 |
|
7. |
Fruits and nuts |
5,132 |
2,885 |
|
8. |
Textiles other that knitted |
3,416 |
1,964 |
|
9. |
Vegetables |
2,476 |
1,543 |
|
10. |
Carpets |
2,376 |
1,470 |
