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Companies from Serbia and Egypt are Planning Joint Projects

Jun 14, 2022

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Serbian companies are ready to participate jointly with Egyptian partners in investment projects in the fields of trade, agriculture, metal-processing sector, chemical and rubber industries, transportation, and tourism in Egypt. Also, they are ready to create a strategy for a joint appearance in third markets, especially Africa and the Middle East.

Representatives of the Egyptian business community, from the sector of metal and chemical industry and tourism, expressed great interest in cooperation with our companies at today's meeting at the Chamber of Commerce and Industry of Serbia, having in mind the extensive plans of the Egyptian Government contained in "Vision 2030", which include serious diversification of Egyptian economy and the implementation of major infrastructure projects.

At the meeting, it was agreed to intensify cooperation with Egypt, in order to start negotiations to find the most suitable mechanism that will alleviate the high customs rates of certain products in export and import.
The Egyptian economy, the second strongest economy in the Arab world after Saudi Arabia, relies mostly on tourism as well as on oil and gas exports, as well as on revenues from the Suez Canal.

Data from the Republic Bureau of Statistics show that the total foreign trade with Egypt last year amounted to 79.7 million dollars, which is a decrease of 22.4 percent compared to 2020 when the total trade was 102.8 million dollars.


On the other hand, in the first three months of this year, the total trade increased by more than 72 percent, compared to the same period in previous years. Exports from Serbia to the Egyptian market increased by more than 100 percent, as a result of increased exports of the purpose-built industry. Imports also increased by almost 50 percent, which is a consequence of higher imports of urea and calcium phosphate.

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