CAIRO: Turkiye and Saudi Arabia were recorded as Egypt’s two largest export markets in the first two months of 2024, with Turkiye receiving exports worth $551 million and Saudi Arabia goods valued at $511 million, according to recent data.
A report from the General Authority for Export and Import Control said that the Italian market received Egyptian exports valued at $395 million, ranking it third overall, followed by the Libyan market, with $337 million, and the US with goods worth $315 million.
Egypt’s leading export sectors for the first two months of the year were construction materials ($1.177 billion), agricultural products ($939 million), food industries ($873 million), chemical products and fertilizers ($871 million), engineering and electronic goods ($809 million), ready-made garments ($465 million), yarn and textiles ($179 million), printing, packaging, paper, books and art products ($153 million), furnishings ($94 million), medical industries ($92 million), furniture ($43 million), handicrafts ($36 million), and leather/footwear/leather products ($27 million).
The most significant items that saw an increase in exports in the first two months of the year were fresh and dried oranges at $296 million, followed by nitrogenous fertilizers at $268 million, gold at $211 million, insulated wires and cables at $229 million, and petroleum oils at $215 million.
Emad Qanawi, a member of the board of directors of the General Union of Chambers of Commerce, commented on Egyptian-Saudi export cooperation.
Qanawi told Arab News that there was a keen interest in Egypt pursuing plans with Saudi Arabia to meet the needs of both country’s markets, and said efforts must be enhanced to facilitate the movement of goods between them.
He said the trade between Egypt and Saudi Arabia had seen “significant growth in recent years due to the shared vision of the leaderships of both countries.”
Another member of the board said: “The change in the global economic map and the emergence of new markets have opened up prospects for more trade and industrial opportunities, making Egyptian-Saudi commercial and industrial integration a necessity to face any regional and global challenges.”
Sherif El-Sayad, president of the Export Council for Engineering Industries, said: “Despite all these challenges occurring together for the first time, the council is strongly determined to deal with all challenges, open new markets, and introduce new ideas to increase exports, especially as many companies produce high-quality products that carry the ‘Made in Egypt’ label globally.”
He added: “There is a great opportunity this year to increase exports, especially as many new foreign investments will start operating in Egypt after the unification of the currency rate.”
Ahmed Samir, minister of trade and industry, said Egyptian commodity exports succeeded in achieving a 6 percent increase during the first two months of 2024, surpassing the same period last year.
The figures indicate the possibility of exports making a significant leap by the end of the current year as per the Egyptian government’s targets.
In a statement, he added: “Egyptian commodity exports achieved a tangible growth rate during this period, amounting to $6.121 billion, compared to $5.794 billion during the same period of 2023, as the volume of exports during these two months exceeded exports of the same period in 2022 and 2021.”
Turkiye, Saudi Arabia largest markets importing from Egypt
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Turkiye, Saudi Arabia largest markets importing from Egypt
- Chamber official emphasizes significance of integrating Egyptian-Saudi commerce and industry to expand markets
- Trade minister says total Egyptian commodity exports increased 6 percent in first two months of the year
Ceasefire with Kurdish-led force extended for another 15 days, Syrian army says
- The defense ministry said the extension was in support of an operation by US forces to transfer accused Daesh militants to Iraq
- The Kurdish-led Syrian Democratic Forces confirmed the ceasefire extension
RAQQA, Syria: Hours after the expiration of a four-day truce between the Syrian government and Kurdish-led fighters Saturday, Syria’s defense ministry announced the ceasefire had been extended by another 15 days.
The defense ministry said in a statement that the extension was in support of an operation by US forces to transfer accused Daesh militants who had been held in prisons in northeastern Syria to detention centers in Iraq.
The Kurdish-led Syrian Democratic Forces confirmed the ceasefire extension.
“Our forces affirm their commitment to the agreement and their dedication to respecting it, which contributes to de-escalation, the protection of civilians, and the creation of the necessary conditions for stability,” the group said in a statement.
Over the past three weeks, there have been intense clashes between government forces and the SDF, in which the SDF lost large parts of the area they once controlled.
Earlier in the day, the Kurdish-led force called on the international community to prevent any escalation.
The end of the truce came as government forces have been sending reinforcements to Syria’s northeast.
Syria’s interim government signed an agreement last March with the SDF for it to hand over territory and to eventually merge its fighters with government forces. In early January, a new round of talks failed to make progress over the merger, leading to renewed fighting between the two sides.
A new version of the accord was signed last weekend, and a four-day ceasefire was declared Tuesday. Part of the new deal is that SDF members will have to merge into the army and police forces as individuals.
The SDF said in a statement Saturday that military buildups and logistical movements by government forces have been observed, “clearly indicating an intent to escalate and push the region toward a new confrontation.” The SDF said it will continue to abide by the truce.
On Saturday, state TV said authorities on Saturday released 126 boys under the age of 18 who were held at the Al-Aqtan prison near the northern city of Raqqa that was taken by government forces Friday. The teenagers were taken to the city of Raqqa where they were handed over to their families, the TV station said.
The prison is also home to some of the 9,000 members of the Daesh group who are held in northeastern Syria. Most of them remain held in jails run by the SDF. Government forces have so far taken control of two prisons while the rest are still run by the SDF.
Earlier this week, the US military said that some 7,000 Daesh detainees will be transferred to detention centers in neighboring Iraq.
On Wednesday, the US military said that 150 prisoners have been taken to Iraq.
