Djibouti’s Minister of Trade and Tourism Mohamed Warsama Dirieh traveled to Cairo, Egypt, on Aug. 1 to meet with his Egyptian counterpart Nevine Gemea, with whom they discussed ways to increase economic relations between the two countries (https://dailynewsegypt.com/2022/08/02/egypt-djibouti-discuss-developing-trade-exchange-joint-investments/).

The Djiboutian minister led a delegation of businessmen and institutional representatives to Cairo, who discussed the opportunity for Egyptian exports especially in food production and agricultural crops.

Djibouti, which is linked to Egypt by regular flights of Egyptair and some naval connections with the Doraleh cargo terminal, intends to increase the trade volume of its trade with Cairo, which was worth $95 million in 2021, up 15.7% from $82.1 million in 2020.

The value of the interchange between the two countries is dominated by Egyptian exports to Djibouti, which amounted to $88.3 billion, while those to Cairo reached $7.7 million last year.

Egypt and Djibouti signed a trade memorandum of understanding in 2016, which both sides now intend to expand and strengthen, especially with a view to addressing the threat of a generalized food crisis in the region as a result of the conflict in Ukraine.

The Egyptian Food Export Council (FEC) confirmed on Aug. 4 how food exports to Djibouti were worth $4.51 million in the first five months of 2022 alone, characterized mainly by the processed cheese, tea, sugar and seed oil sectors (https://www.egypttoday.com/Article/3/118132/Egypt-s-food-exports-to-Djibouti-hit-4-5B-in).

LEAVE A REPLY

Please enter your comment!
Please enter your name here