Egypt-Poland trade exchange volume hits $720 mln in 2021

MENA , Ahram Online , Tuesday 31 May 2022

The volume of trade exchange between Egypt and Poland unprecedently reached around $720 million in 2021 — an increase of 20 percent — compared to 2020, according to Minister of Trade and Industry Nevine Gamea.

 Nevine Gamea
Egyptian Minister of Trade and Industry Nevine Gamea delivers a speech at the Egyptian-Polish Business Forum in Cairo, 30 May 2022. Egyptian Cabinet

 

Gamea made her remarks in a speech on Monday during the Egyptian-Polish Business Forum in the presence of Polish President Andrzej Duda, Egypt’s Prime Minister Mostafa Madbouly, and a host of ministers, senior officials, and businessmen.

Egypt’s exports to Poland also increased in 2021 by more than 60 percent to hit about $300 million, the minister added.

The remarkable increase in the volume of trade exchange between Egypt and Poland reflects the two countries’ keenness to enhance their bilateral cooperation in light of the current global economic challenges.

Furthermore, Egypt is keen on promoting economic, trade, and investment ties with Poland, Gamea said, highlighting the crucial role played by the businessmen of the two countries in fostering cooperation across various spheres.

The Egyptian-Polish Business Forum represents an important platform to rally efforts to confront the current economic challenges, added the minister.

Attractive destination for investors

In his remarks to the forum, Duda hailed Egypt as an attractive destination for Polish investors.

“As a president of Poland, I am deeply interested in pushing cooperation forward, not only at the commercial levels, but in all areas of mutual interest, such as expertise-sharing,” Duda said, highlighting his country’s ongoing research on fisheries and food production.

He noted that Poland is a country with a great deal of experience in transportation, smart cities, medical technologies, agricultural production, as well as various forms of energy, alluding to the possibility of achieving economic integration between both countries.

“This would help open the door to new possibilities for Polish as well as Egyptian investors and offer new solutions in various sectors, especially the energy industry.”

Duda, who embarked on his first-ever official visit to Cairo on Monday, has stressed that the visit will have positive effects on bilateral relations with Egypt.

He also reaffirmed that there will be positive impacts on the country’s tourism and economy in light of the forum and the resumption of direct flights between Cairo and Warsaw by Poland’s LOT as of 31 May with five flights scheduled a week.

For his part, Polish Minister of Economic Development and Technology Grzegorz Piechowiak voiced his hope that the forum would be an opportunity to further enhance cooperation between the two countries.

He added that Egypt is an essential strategic partner to Poland and a gateway to Africa and several Arab countries.

On the side-lines of the forum, Egypt’s General Authority for Investment and Free Zones (GAFI) signed an MoU with the Polish Investment and Trade Agency to encourage mutual investments and establish joint investment projects.

Short link: