Kuwait-Egypt trade volume hit USD 3.2 bln - Ambassador

27/11/2014 06:52 AST

Egyptian Ambassador to Kuwait Abdulkarim Suleiman said Wednesday evening the bilateral trade volume grew to USD 405 million a year, excluding the value of Egypt's imports of Kuwaiti oil by-products.

"The total trade volume amounts to USD 3.2 billion which signals the strength of the bilateral ties," he told reporters after inaugurating the Egyptian property exhibition 'amar ya masr' at Crowne Plaza Kuwait in Farwaynia city. The 13th edition of the exhibition, which lasts until November 29, brought together 35 property developers.

Ambassador Suleiman said the number of Kuwait companies, investing in Egypt, grew from 904 in 2013 to 930 at present while the number of Egyptian companies operating in Kuwait hit 2,700 investors. He added that his embassy is preparing for visits to Kuwait by Egyptian senior official including Minister of Trade and Industry Munir Fakhri Abel-Nour who will sign an agreement on industrial and commercial cooperation.

"The joint Kuwait-Egyptian commission will meet in Kuwait in a fortnight time after four-year hiatus," he said, noting that the annual meetings of the commissions were suspended after January 25 revolution in Egypt.

He added the agenda of the meeting includes, inter alia, political, economic, industrial, commercial, tourist and customs issues.


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