15 November 2018 08:39 AM

Economic Relations

Tuesday، 10 November 2015 12:00 AM

Despite the long relations between both countries, trade and investments structure is still not up to the desired levels, though there are potential areas of cooperation still to be explored and developed, particularly in the fields of energy, agriculture and Industry.

Egypt as a member in a number of regional economic blocs (COMESA, Agadir convention) represents great prospects and a gateway for polish entrepreneurs and investors to explore markets in Africa and the Arab world, moreover benefiting from the developed infrastructure, cheap trained labor and incentives offered to foreign investors.

It is worth mentioning that PGNIG Poland's leader in the natural gas market has won a concession in the Egyptian Western Dessert for Oil and Gas exploration with investments amounting to 48 million dollars, moreover the company has inaugurated its office in Cairo in October, 2009.

The structure of traded commodities between Egypt and Poland is as follows:

Egyptian Exports to Poland: Fresh and dried fruits and vegetables, paper and plastic products, Marble and Granites, Textiles, fabrics and fibers, phosphate, components of electrical circuits.

Polish Exports to Egypt: Steel and metal sheets, Milk Powder, Vehicles, food products, railway lines, charcoal, smart chips, scrap, insulin.

The following table depicts trade volume between both countries for the last four years:


                                                                                                                    Mil.usd (000) 

 

2006

2007

2008

2009

Exports from Egypt to Poland

32.71

46.57

63.55

44.89

Exports of Poland to Egypt

164.73

149.91

224.17

275.12

Aggregate Trade Volume

197.44

196.48

287.72

320.23

Contractual Framework

Main Treaties and Agreements between Egypt and Poland:


Ref


Agreement

 

Signature


Ratification

1.       

Agreement  on Air Transport

15/3/1957

25/3/1957

2.       

Additional protocol

for Air transport agreement

9/7/1957

28/4/1967

3.       

Agreement on Shipping

 and Maritime transportation

2/11/1977

Not ratified by Poland

4.       

Agreement on Extradition of Criminals

17/5/1992

2/3/1993

5.       

Agreement on Judicial assistance

in Civil and Commercial issues

17/51992

17/3/1993

6.       

Protocol for Agricultural Cooperation

17/3/1993

17/1/1998

7.       

Promotion and protection of investments

1/7/1995

17/1/1998

8.       

Agreement on Avoidance of Double

Taxation

24/6/1996

16/7/2007

9.       

Agreement on Cooperation in the field

 of Security

17/10/1996

30/12/1998

10.     

Protocol for Cooperation between

Ministries of Foreign Affairs

29/12/1996

9/12/1996

11.     

Agreement on Scientific and

 Technological Cooperation

16/9/2000

3/12/2001

12.     

Agreement on Cultural and

 Educational Cooperation

28/9/2002

16/10/2003

13.     

Executive protocol for Cultural

and Educational agreement

21/5/2007

 

14.     

Protocol for Cooperation between

 Egyptian Television and Radio Union

 and Polish Radio and Television

16/4/2008

16/4/2008

 

Pending Draft Agreements:

Agreement on Cooperation in the field of Tourism, which has been sent to the Egyptian authorities to for consideration, and provide with their final opinion.

Agreement on the abolition of the visa requirement for holders of Diplomatic passports. A proposal has been presented to the Polish authorities to consider reincorporating holders of (Special and Mission) in the draft agreement on the abolition of visa requirements for holders of Diplomatic  passports, based on the  status of the personnel benefiting from the agreement not the type of passport they hold.

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