Egypt, Tunisia eye joint bank to lure investment in each other’s economies

Egypt and Tunisia are expected to launch plans for a joint bank, head of the Egyptian Trade Representative’s Office in Tunisia said on Sunday.

The understudy bank is expected to secure funding for trade and financial transactions to encourage investors who make investments in each other’s countries, Alaa Eddin Hussein added.

It will facilitate and accelerate the trade and financial transactions for investors from both countries, the Egyptian official said.

Trade exchange between Egypt and Turkey has totaled $246.2 million in the January-September period from $403.5 million last year in the awake of the coronavirus impact. All air and maritime traffic were halted between the two countries in the third week of March due to the pandemic.