17 November 2018 09:37 AM

Economic Relations

Tuesday، 17 November 2015 12:00 AM

Economic, trade, touristic and technical relations:

The bilateral trade exchange witnessed notable growth during the past few years; the volume of bilateral trade exchange exceeded USD 1.6 million in 2008. However, in 2009, the global financial crisis reduced this sum to USD 1.1 billion. Nevertheless, the economic indicators - of the first eight months of 2010 (January-August) - show the return of the bilateral trade exchange volume to its normal rates.

The main Egyptian exports to Ukraine include citrus, rice, medicines, strawberry, medical herbs, spices, potatoes, water heaters, steel and ceramic, while the Ukrainian main exports to Egypt include iron and steel products, charcoal, sunflower oil, wheat and corn, in addition to military exports including planes.

Businessmen Council: the Egyptian-Ukrainian Businessmen Council was established, in November 2006, to encourage trade exchange and investment. The council convened for the first time in Kiev in December 2006, the second meeting was held in Cairo in March 2007, and the third was held in Kiev in May 2008.

Egypt is one of the main touristic destinations for Ukrainian tourists; the number of Ukrainian tourists reached an unprecedented rate in 2008, as more than 508 thousand tourists visited Egypt. However, the global financial crisis decreased this number in 2009 to 315 thousand tourists. The latest statistics of the period from January to October 2010 indicate the increase in the tourists’ number to 315 thousand, with an increase rate of 33.8%, compared to the same period in 2010. This indicates the possibility of restoring the number of tourists to its high rate. Ukrainians rank 6th among the tourists' groups to Egypt. Due to the large number of Ukrainian tourists who travel to Egypt, the Ukrainian travel agencies operate occasional weekly flights to the Egyptian Red Sea cities, such flights take off from Kiev, Odessa, Kharkiv, Lviv and Dnepropetrovsk to Sharm El Sheikh and Hurghada.

Naftogaz of Ukraine prospects for oil and natural gas in the Egyptian Western Desert, and has recently succeeded in producing oil, to be sold at the national market. Naftogaz investment in Egypt is estimated to be USD 60 million.

The scientific cooperation between the Egyptian and Ukrainian experts resulted in launching EGYPTSAT – 1 satellite, which Ukraine produced in April 2007.

Contractual Framework

• A Cooperation Protocol between the Egyptian and Ukrainian Foreign Ministries was signed on December 22nd, 1992, and entered into force on December 22nd, 1992.

• An agreement on founding the Egyptian-Ukrainian cooperation relations was signed on December 22nd, 1992, and entered into force on December 22nd, 1992.

• An agreement defining principles of the Egyptian-Ukrainian cooperation was signed on December 22nd, 1992, and entered into force on December 22nd, 1992.

• A Protocol for Media Cooperation was signed on December 22nd, 1992, and entered into force on December 22nd, 1993.

• An agreement on the promotion and Protection of investments was signed on December 22nd, 1992, and entered into force on October 10th, 1993.

• An agreement on Economic, Technical and Scientific Cooperation was signed on December 22nd, 1992, and entered into force on October 25th, 1993.

• A trade agreement was signed on December 22nd, 1992, and entered into force on October 25th, 1993.

• An agreement for cultural and scientific cooperation was signed on December 22nd, 1992, and entered into force on October 25th, 1993.

• An agreement for air transport was signed on December 22nd, 1992, and entered into force on March 3rd, 1994.

• A cooperation agreement in the field of fish wealth was signed on May 29th, 1994, and entered into force on January 30th, 1995.

• A cooperation agreement in the field of combating crime was signed on April 24th, 1995, and entered into force on September 29th, 2001.

• A cooperation agreement in the field of tourism was signed on October 17th, 1995.

• A Protocol for Media Cooperation was signed on March 29th, 1997, and entered into force on February 29th, 2002.

• An agreement on avoiding double taxation was signed on March 29th, 1997, and entered into force on February 27th, 2002.

• An agreement on commercial navigation was signed on March 29th, 1997.

• A cooperation agreement in the field of water management was signed on June 14th, 1997.

• A cooperation agreement in the field of standardization and calibration was signed on March 24th, 2003.

• A Memorandum of Understanding between the Egyptian and Ukrainian Ministries of Housing in the field of urban construction and planning was signed in March 2003.

• An Agreement on Extradition was signed on October 10th, 2004.

• An Agreement on Judiciary Assistance in Criminal Codes was signed on October 10th, 2004.

• A Cooperation Agreement in the filed of health was signed on March 19th, 2006.

• A Cooperation Agreement in the field of postal services was signed on December 20th, 2006.

• An Agreement on the Peaceful Use of Outer Space was signed on April 10th, 2008.

• A Scientific and Research Cooperation Program between the Egyptian Agricultural Research Center and the Ukrainian Agricultural Academy was signed in May 2009.

• An agreement on judiciary assistance and judiciary relations in civil status was signed with initials on December 21st, 2009.
 

Most Visited

From To