Thursday، 22 October 2015 - 12:00 AM
The year 2009 was a turning point in our bilateral trade relations; where the total volume of trade surpassed £1.6 billion sterling, and in spite of the global economic downturn, we remain confident that we can exceed that level by the end of the year 2010.
The UK remains the largest investor in Egypt, with direct investments of the top 20 UK companies operating in Egypt exceeding US $20 billion, in areas of services, financial services, energy, construction, tourism, pharmaceuticals, textiles and IT & communications. The number of companies, with British capital participation, working in Egypt exceeds 1000 companies, from household names such as BP, BG, Shell, Vodafone, GlaxoSmithKline and HSBC to smaller, high tech start-up companies.
There are other sectors offering particular opportunities for UK businesses and partnerships in Egypt,a fact confirmed by Sir Andrew Cahn, UKTI Chief Executive after his visit to Egypt, in 2009 namely: ICT, education, ports, aerospace and advanced engineering, agro-technology and renewable energy.
Another new record was achieved in 2009 in tourism, in spite of the downturn in global tourism. British tourists, who visited Egypt, in 2009, exceeded the 1.35 million mark for the first time ever, an increase of 12 per cent compared with 2008, which in itself was a record then.
Egypt has always valued its strong friendship with the United Kingdom, our relations today are better than ever in all fields. We maintain an ever-growing collaboration and technical cooperation in a wide range of areas, including investment promotion, financial services, consumer protection and competition, education, health and ICT sector.
Egyptian-British Business Council
The Egyptian British Business Council (EBBC) was set up under the auspices of the Egyptian and British Governments in 1998 as a top level strategic body to facilitate trade links between Egypt and the UK, identify barriers to trade and explore ways of tackling them.
Members, numbering up to fifteen a side, have included British investors in Egypt and leading members of the Egyptian private sector, working closely with UK Trade and Investment (UKTI) and the Egyptian Ministry of Trade and Industry.
Main Egyptian exports to UK:
• Petroleum and gas
• Textiles and ready-made garments
• Fruits and vegetables
• Tools and machines
• Electric appliances
• Chemical products
Main Egyptian imports from UK:
• Industrial and production equipment
• Medical products and pharmaceuticals
• Electric appliances