Trade between Egypt and Latin America showed a significant increase last year, said Hussein Omran, head of Egypt's International Trade sector. According to Omran, data shows that trade between Egypt and Latin America during 2010 amounted to 3,111 million EGP while trade in 2009 was only 2,002 million EGP, making a growth rate of 55 percent. This comes as a part of efforts to increase Egyptian exports to world markets and the search for emerging markets, one of which is Latin America. Exports climbed to about U.S. $373.7 million in 2010 compared to $115.6 million in 2009. The huge jump is a direct result of the efforts of the Ministry of Industry and Foreign Trade, particularly the promotion of Egyptian exports by opening new markets. The increase of Egypt's exports to some countries in Latin America is significant. Brazil is Egypt's best trading partnet, accounting for 53 percent of total Egyptian exports to Latin America in 2010. Egyptian exports to Brazil in 2010 amounted to U.S. $198 million, a vast increase from $45.5 million in 2009. Among the most important commodities that Egypt exports to Brazil is superphosphate fertilizer, valued at $22.9 million in 2010 compared to $1.12 million the previous year, followed by urea fertilizer valued at $17.1 million in 2010 compared to $16 million the previous year, and pure turpentine valued at $14.5 million. Chile came in second place, totaling 19 percent of Egypt's total exports to Latin America in 2010. Egypt exported a total of $71.1 million in 2010 versus $2.3 million in 2009. The most important commodities exported to the Chile included carpets and other furnishings, valued at $3.2 million in 2010 compared to $1 million the previous year, followed by polypropylene beads at $1.2 million in 2010. Twelve percent of Egyptians exports in the region go to Uruguay. The value of exports reached about $44.9 million in 2010 compared to $3.5 million in 2009. Uruguay's marked was penetrated by several Egyptian goods for the first time in 2010, including $17.6 million worth of turpentine spirits, followed by urea fertilizer worth $3.3 million, super phosphate at a value of $3.1 million, followed by a mixture of linear alkyl benzene at $1 million in 2010. Argentina came in fourth place with 7 percent of the Egyptian exports to Latin America with a total value of $24.7 million in 2010 over $22.4 million in 2009. Panama occupied fifth place as the best commercial partner to Egypt among the countries of Latin America in 2010 with 2 percent of Egypt's exports to the region. It is also noteworthy that Egyptian exports entered certain countries for the first time, such as Martinique.
