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Egyptian exports to Kenya jump 30%, imports fall by 27% during H1 2017: Kabil There was a 239% increase in the trade balance between Egypt and Kenya, says Minister of Trade and Industry
Minister of Trade and Industry Tarek Kabil said that Egyptian exports to Kenya jumped 30% in the first half (H1) of this year compared to the same period last year, while imports fell by 27%. He explained that the Egyptian exports to Kenya increased scoring more than $170m during H1 2017 compared to $130m during the same period last year. On the other hand, imports decreased by an amount of $79m instead of $109m during the same period last year. Moreover, Kabil said there was a 239% increase in the trade balance between the two countries, explaining that it increased from $27m to $90m during H1 of this year. He added that these results according to the latest report received from the Egyptian commercial office in Nairobi about the trade exchange between Kenya and Egypt during H1 of 2017 compared to the same period last year. In the same context, the head of the Egyptian Commercial Service Office (ECS), Ahmed Antar pointed out that the most important Egyptian export items that witnessed an increase during H1 2017 to Kenya were sugar, diapers, detergents, and glass containers. Furthermore, he added that this increase in Egyptian exports to Kenya comes within the framework of the adoption and implementation of the ministry's strategy by the Egyptian commercial office in Nairobi. In the same context, he explained that this strategy aims to target African markets through helping the Egyptian exporting companies to export their traditional and non-conventional products to the African market. He stressed that the commercial offices abroad arranged and coordinated visits of a number of Egyptian and foreign delegations totalling 13 visits. In addition, 91 reports and marketing studies have been prepared and about 289 requests have been responded to, all of which were related to the promotion of Egyptian companies products in foreign markets. Moreover, the commercial offices abroad contributed to the signing of contracts and the providing of exporting opportunities worth about $142.5m and the provision of foreign investment opportunities in Egypt worth $352m, according to the Ministry of Trade and Industry's press release.
