Trade exchange between Egypt and Spain grew by 31.3% to over €2.7 billion in 2021, versus €2.1 billion in 2020, Egyptian Minister of Trade and Industry Ahmed Samir revealed during the Egypt-Spain Multilateral Partnership seminar on September 27th. Egyptian exports to Spain recorded €1.192 billion in 2021, surging by 80.5% from €659 million in 2020, Samir added. Spanish investments into Egypt stood at €826 million in the fields of power generation, renewable energy, building materials, and food industries, along with the huge cooperation in the transport sector, he said.
Moreover, the minister indicated that the Egyptian government welcomes new Spanish investments in the local market and is keen on supporting all the companies operating in Egypt to reinforce economic and trade relations between the two countries, especially amid the current global challenges. He also highlighted the importance of the role played by the business community in cementing economic cooperation and trade exchange between Egypt and Spain. The establishment of the Egyptian-Spanish Business Council in August is a positive step for exploring new ways for cooperation, Samir noted.