The Egyptian exports to the Italian market went up15% to EGP 2.4 billion during the first quarter of 2013, compared to EGP 2 billion in 2012. A reliable source in the Foreign Trade Sector asserted to "Amwal Al Ghad" that the Egyptian exports to the Italian market were building material, which hit EGP 864 million, the chemical products and fertilizers that achieved EGP 313 million, and the textile at EGP 291 million. The sources added that the rest export value focused on the agricultural crops at EGP 166 million, the food industries product at EGP 106 million, the leather products at EGP 66, in addition to other sectors at varying export values. More»

DoorKnock Mission Doesn't Represent Egypt's Govt, But Seeks Boosting U.S. InvestmentsThe USA Has A Significant Role In Granting Egypt The IMF's Loan Mr. Gamal Muharam, Chairman of the American Chamber of Commerce in Egypt, said that the chamber's delegation, which is visiting Washington at the present time, mainly focuses on creating new jobs through joint American Egyptian ventures. The Doorknock Mission comprises 40 investors, who held as to 200 meetings with the Congress, the Obama administration and various research centers so as to transfer a positive image about investments in Egypt. Muharram has described the current mission as the most significant in comparison with the former missions, as this mission bears big responsibilities owing to it is the first after Mohamed Morsi elected a president along with the critical condition of the Egyptian economy and hampering the negotiations between the International Monetary Fund (IMF) and the Egyptian government. The talks with the U.S. side target the possibility of resuming the negotiations about the free trade agreement between Egypt and the USA, because Egypt is in need for such agreements to bolster its economy and resolve the current crisis, Muharam said, pointing out that the mission represents the Egyptian private sector. Muharam emphasized that the mission doesn't represent the Egyptian government in the deliberations that is conducting now in Washington. However, the mission is aiming to transfer a positive image about the investments in the Egyptian market, eliminating the fears of the U.S. side; paving the way for boosting the international cooperation with Egypt, finding solutions for the disputes between the two sides, and ramping up the U.S. investments and trade with Egypt. He referred to the significance role of the U.S. in urging the international institutions to support Egypt; especially the IMF in order to get the $4.8 billion loan. The loan will open the door for increasing the international investments to Egypt and improving the level of the Egyptian economy in the international agencies. Mr. Gamal Muharam also indicated to the meeting that was convened between the American Chamber and the Governor of the Central Bank of Egypt, Hesham Ramez. The meeting was welcomed by the American side amid the trust message it sent. The Governor has reviewed the important features of the monetary policies and procedures that the CBE take to enhance the Egyptian economy, in addition to the challenges facing it; especially the cooperation between the government and banking system to achieve the instability for the Egyptian banking market. The Egyptian delegation will convene a meeting Monday afternoon with some officials of the U.S. Department of State to look into the mechanisms of facilitating the economic cooperation between Egypt and the USA. More»

Dr Waleed Abdel Ghaffar, Advisor to Minister of Transport, has announced about signing the final contract to settle the problem of the Chinese company of TEDA before the end of April. The Advisor mentioned that the company has been working in Egypt since 2009; affirming that signing the contract will help the Egyptian economy and working towards attracting more investments. The TEDA Company, which both of the Egyptian and Chinese governments own, decided in 2009 to invest in the economic area in North West Suez Gulf, about $60 million, by  the China-Africa Development Fund, which was founded in 2007, according to a signed agreement between the two sides in 2008 but the project was suspended. The final contract was supposed to be signed in the wake of President Morsi's visit to China through injecting $ 1.5 billion by the Chinese Company of TEDA. These investments should be oriented to construct 150 factories to provide 40.000 job opportunities. More»

The Egyptian exports to the Republic of South Africa achieved a historical leap in the trade exchange relations between the two countries; recording EGP 1.6 billion in the first quarter of 2013, rose by 100% in comparison with the exports at the same period of 2012. On the same context, a reliable source in the Foreign Trade Sector told "Amwal Al Ghad" that this historical leap was due to the building materials, which hit EGP 1.4 billion out of the total exports of Egypt to South Africa, while the rest value of EGP 200 million distributed on a number of the productive sectors. It is worth mentioning that Egypt's exports to the Republic of South Africa witnessed successive jumps over the past five years. In 2007, the exports reached EGP 30 million, while in 2011 they amounted to EGP 477 million. And then, the exports in 2012 hit EGP 874 million. This jump brought about the investors union to announce their intention to form an Egypt South African council in the coming days. More»

The Egyptian Syrian Business Council has established a charitable fund by the contribution of Egyptian as well as Syrian businessmen in order to construct a comprehensive medical center for the Syrian families live in Egypt. The Head of the Egyptian Syrian Business Council, Khaldoun al-Mowakaa, has confirmed the council had established the fund to provide health care to the Syrian families for free. Khaldoun told "Amwal Al Ghad" that the council seeks to have a meeting with Dr Mohamed Mustafa Hamed, Minister of Health, to discuss establishing an equipped medical center to provide the health care and medications to the Syrian families in Egypt for free. He elaborated that the council receives the problems of the Syrian businessmen seeks investing in the Egyptian market, works on resolving the problems and obstacles that faces Syrians in Egypt. More»

Egypt is aiming to ramp up its imports of the alcoholic drinks and liquors to 44% by 2016 in order to reach 227 million liters; according to the latest reports of the Federation of German Food and Drink Industries (BVE). The report elaborated that the volume of the alcoholic drinks and liquors in the Egyptian market reached 157.5 million liters in 2012, while the volume of the beer recorded 155 million liters. Meanwhile, the imports of the diary products reached 230.6 liters in 2012 that is what aroused the anger of the retailers and importers. On his part, Amr Asfour, Vice-President of the Food Division, described the policies of the government as tenuous, which reveals who the government has no experience over the priorities to the staple commodities that should be imported. Asfour has also described the government's policies with random and stereotyped that show deep ignorance about the economic policies should be followed after the revolution. The Federation of Egyptian Chambers of Commerce issued a statement today in which it calling on the Egyptian Prime Minister to be frankly with the people about the current crisis. More»

Bassem Auda, Egyptian Minister of Supply and Internal Trade, said the wheat production this year will amount to 10 million tons, it will be the first time in Egypt's history, indicating that the consumption ranges between 13 and 14 million tons annually. Auda said the self-sufficiency of wheat is imminent, with increasing the production and decreasing the rationing besides investing the silos. Auda has explained that the ministry developed 95 barns to store the wheat in order to be ready next May, and the metal silos are being evacuated now in order to restore the domestic wheat. The ministry of finance has provided EGP 500 million to the General Authority for Supply Commodities as a first payment to buy the domestic wheat from the farmers, said Bassem Auda, pointing out that the second payment will be sent to the authority on Sunday. The minister affirmed that the ministry will implement the law No. 53/2012 that concern selling and trafficking in the domestic wheat. More»

Egypt's Trade And Industry Minister, Hatem Saleh, said on Friday that no agreement has been reached on a Russian loan to Egypt. Speaking after a meeting between Egyptian President Mohamed Morsi and Russian President Vladimir Putin, Saleh said "today we have reached no conclusion on that loan." A Moscow-based source said previously that Egypt planned to discuss a possible $2 billion loan. More»

The American Chamber of Commerce in Egypt (AmCham Egypt) has traveled late Wednesday to Washington, DC on its annual Doorknock Missions seeking to strengthen its strategic partnership with the United States. AmCham delegations will meet with the U.S. Administration, Congressional Members, think tanks, and media representatives in order to communicate Egypt's economic reform process, real GDP growth, and success story as an emerging economy. Doorknock delegations are comprised of members representing all demographic groups including gender, age, company size, sector/industry, and veteran and first time delegates. AmCham Egypt also travels to the U.S. on business missions to facilitate and promote trade between both countries. AmCham business delegations are either comprised of a variety of commercial sectors and engage in a wide range of activities or can be industry specific centered on one U.S. trade fair. AmCham Egypt organizes business matchmaking and networking events as well as helps to arrange business meetings in coordination with its U.S. partners. Business missions are a direct link to increasing commercial ties. More»

A recent study conducted by the Egyptian Business Development Association (EBDA) has estimated the volume of the Egyptian exports with $ 30 billion in 2011, out of $ 17 trillion the total value of the global exports, compared to the global foreign trade. EBDA confirmed that the movement of the exports on the global level witnesses a quantum leap, as it amounted to $ 17 in 2011. It referred that increasing the exports of many countries assisted the companies in making use of the global trade opportunities, like China, which its exports reached $ 1.8 trillion. According to the study, Germany acquires $ 1.4 trillion, Saudi Arabia at volume of $ 336 million, Malaysia at volume of $ 226 million, while Egypt is still looking for a rank among these countries. Egypt's exports value in 2011 reached $ 30 billion. More»