Ukraine and Egypt have great potential to develop trade and economic cooperation

Ukraine and Egypt have great potential to develop their trade and economic cooperation.

This is according to the government press service referring to a report from the Ministry of the Economy, Ukrinform wrote.

On December 16, 2021, the eighth meeting of the Intergovernmental Joint Commission on Economic, Scientific and Technical Cooperation between Ukraine and the Arab Republic of Egypt was held in Cairo, co-chaired by the First Deputy Prime Minister, Minister of Economy of Ukraine Yulia Svyrydenko and Minister of International Cooperation Rania Al-Mashat.

“The relations between Ukraine and Egypt have a long and fruitful history, and the holding of a joint meeting of the Commission was a natural continuation of the intensification of the Ukrainian-Egyptian dialogue at the highest levels. Our countries have great potential to develop trade and economic cooperation. In this context, the possibility of concluding a preferential trade agreement between Ukraine and Egypt is being studied ”, declared Ukrainian First Deputy Prime Minister Yulia Svyridenko.

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Ukraine is interested in being present on the Egyptian market beyond just agricultural products. The desire was stressed to diversify supplies by increasing the export of value-added products from the food and processing industries.

In addition, Ukraine attaches great importance to cooperation with Egypt in the field of phytosanitary protection and remains interested in increasing trade in plant and animal products, which will be determined by the relevant Egyptian authorities. The parties also stressed the importance of the implementation of joint projects by companies from the two countries.

During the meeting, the parties identified areas of cooperation of mutual interest, including agriculture, energy, industry, transport infrastructure and logistics, urban construction, space technologies, technologies information, tourism, health care, cooperation in youth and sport, etc. .

The standardization cooperation agreement was signed by the SE Ukrainian Research and Training Center for Standardization, Certification and Quality and the Egyptian Organization for Standardization and Quality, as well as a Memorandum of Understanding between the State Space Agency of Ukraine and the Egyptian Space Agency for Outer Space Cooperation and Peaceful Uses of Outer Space.

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The Ukrainian-Egyptian Business Forum was also held in the areas of the Commission under the auspices of the Ukrainian Chamber of Commerce and Industry and the Federation of Egyptian Chambers of Commerce.

As reported by Ukrinform citing customs data, as of December 8, Ukraine had exported nearly 15 million tonnes of wheat, including 9.8 million tonnes of food wheat and 5.13 million tonnes of feed wheat.

Food wheat shipments have increased with the support of growing demand from importers who prefer high protein wheat (for food) – Saudi Arabia, Egypt, Algeria and other MENA countries (Middle East and North Africa).

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