The Egyptian exports to the Iranian market dived by 27% from January to August 2012, recording EGP 320 million, compared to EGP 437 million exports of 2011. Although the joint efforts that both of Egypt and Iran are exerting to restore the relations and expanding the economic cooperation, especially after the visit of President Morsi to Iran, but the rate of exports went down. Sources in the ministry of industry and trade told Amwal Al Ghad that the decline amounted to 27% in Q1 and 26% in Q2 of 2012. Meanwhile, the Egyptian exports to the Iranian market last July hit EGP 22 million, compared to EGP 11 million in July 2011; moreover, last August didn't witness any exporting transaction from the Egyptian market to its Iranian counterpart.
