18 June 2018 09:29 PM

Economic Relations

Tuesday، 13 October 2015 12:00 AM

Table of economic trade, figures in million U.S dollars:-

2008
2007
2006
2005
2004
Year
615
595
550
259
194
Egyptian Exports
732
410
383
135
107
Egyptian Imports
1374
1005
933
394
301
Trade volume
-117
185
167
124
87
Trade Balance

Main Egyptian Exports to Syria:

Cement,Cosmetics,Dried beans,Rice,Iron & Steel,Glass Products,Cheese,Food preparations,Peanuts

Main Egyptian Imports:-

Yarns, Lentils,Apples,Cotton ,Ready-made clothes,Carpets,Sunflower seeds,Fabrics and Textiles

According to the Egyptian Investment Authority statistics, the total Syrian investments in Egypt reached $376.3 millions until 31/12/2009 through 922 companies.

Most important investment sectors: weaving and textiles, food, chemical, service, agricultural, tourism and financing industries.

Ranked among the countries investing in Egypt, Syria is not among the first ten countries investing in Egypt, but it comes within the first Arab states.

Egyptian investments in Syria reached $44.1 millions, investment costs until the end of 2008 focused in 7 projects according to the Syrian Investment Authority statistics.

Economic and Technical Cooperation:

Most important cooperation fields:

Extending natural gas pipelines between the two countries within the Arab Gas Project which also encompasses Jordan, Lebanon and Turkey through a set of pipelines in those countries.

Exporting Syrian wheat (400,000 tons) in return for importing Egyptian rice (150,000 tons) within the terms of the equal transaction (it was agreed to be abrogated). A number of Egyptian companies implement numerous services in Syria: in the field of oil services, the Egyptian Company Enppi and the Egyptian excavation company implement a number of infrastructure projects. The Egyptian Gama Company implements electric dynamo manufacturing project in the free-zone in the city of Deraa. Furthermore, the Sabbour Engineering Consultants Group launched a branch in Syria to extend engineering consultations to the Syrian companies working in contracting and construction works.

Contractual Framework

- Economic Cooperation Agreement 13.12.1990

- The avoidance of double taxation 19-07 -1991

- Trade agreement 19-07 -1991

- Protocol for coordination and cooperation between the ministries of agriculture in both countries 19/7/1991

- Program for cooperation in the field of quarantine and animal health 02/10/1992

- Implementation arrangements for the Great Arab Free Trade 01/01/1997

- Protocol to encourage investment between the two countries 28/5/1997

- Memorandum of understanding for cooperation between the two fairs authorities in February 2002

- Memorandum of Understanding for the exchange of trade information between contact points in the two countries in February 2002

- Agreement for cooperation between the two bodies for investment in 23/12/2003

- Protocol of Cooperation between the Ministries of Economies 23/12/2003

- Protocol on the establishment of joint chamber of commerce between the federal chambers of commerce in both countries 23/12/2003

- Memorandum of Understanding for cooperation in the field of WTO agreements between the Ministry of Economy and Commerce in the two countries in March 2006

- Cooperation Agreement between the Chamber of Commerce in Cairo and Damascus Chamber of Commerce

 


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