CBE joins Pan-African Payment and Settlement System
As part of Egypt’s efforts to deepen economic collaboration with African nations, the Central Bank of Egypt (CBE) has joined the Pan-African Payment and Settlement System (PAPSS). Developed by the African Export-Import Bank (Afreximbank), PAPSS streamlines cross-border payments and trade
Damietta Port’s new container terminal nears completion
Damietta Port’s new container terminal is nearing completion, with operational trials set to begin immediately after phase one is finished, according to officials. Egypt’s Prime Minister Mostafa Madbouly and Vice Prime Minister for Industrial Development and Minister of Industry and
Egypt, Qatar PMs pledge enhanced cooperation
Prime Ministers Mostafa Madbouly of Egypt and Mohammed bin Abdulrahman bin Jassim Al Thani of Qatar co-chaired a meeting to discuss strengthening bilateral cooperation across various sectors. The meeting, held at the Council of Ministers headquarters in Egypt’s New Administrative
Deputy PM highlights cooperation, investments at Egyptian-Sudanese Business Forum
The first Egyptian-Sudanese Business Forum, held on Saturday, focused on strengthening economic cooperation between the two nations. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, opened the forum by emphasizing the importance of expanding
Egypt-AU trade exchange rises 5.7% to $9.2bn in 2023
Trade exchange between Egypt and the African Union countries reached $9.2bn in 2023, up from $8.7bn in 2022. This marks an increase of $500m and a growth rate of 5.7%, according to the Central Agency for Public Mobilization and Statistics
Egypt-Saudi Arabia trade exchange increases to $7.5bn in 9M 2024: CAPMAS
The Central Agency for Public Mobilization and Statistics (CAPMAS) has announced an increase in the trade exchange between Egypt and Saudi Arabia to $7.5bn in the first nine months of 2024, compared to $5.6bn in the same period of 2023,
Egypt launches new RoRo ferry service between Damietta, Trieste ports
Egypt launched a new Roll-on/Roll-off (RoRo) ferry service connecting Damietta Port in Egypt to Trieste Port in Italy on November 29th, 2024. The service is expected to significantly boost trade and economic ties between the two countries, particularly in the
BRICS leaders convene in Russia for 16th Summit
The 16th BRICS summit kicked off in the Russian city of Kazan on Tuesday with the participation of leaders from 36 countries, including 22 heads of state or government. The three-day event will see discussions on a range of topics,
18.3% increase in Egypt’s trade deficit in July 2024
The Central Agency for Public Mobilization and Statistics issued the monthly bulletin of Foreign Trade Data for July 2024. Egypt’s trade deficit reached $4.60bn during July 2024, versus $3.89bn for the same month of the previous year, an increase of
Saudi Arabia ranks 2nd among Egypt’s trading partners in Q1 2024
The Central Bank of Egypt (CBE) said that the Kingdom of Saudi Arabia ranked second among Egypt’s top trading partners until the end of the first quarter (Q1) of 2024, with trading worth $5.209bn, including $3.871bn imports and$1.338bn exports.