Ukraine and Egypt offered a new format of economic cooperation

Украина предложила Египту новый формат экономического сотрудничества

Ukraine and Egypt offered a new format of economic cooperation and to consider the possibility of concluding a bilateral preferential trade agreement.

This was discussed during a telephone conversation of Ministers of foreign Affairs of Ukraine Dmitry Kuleba and Egypt, Sameh shoukry, according to the press service of the Ukrainian foreign Ministry.

“We are committed to a substantial increase in the volume of bilateral trade which last year amounted to more than $ 2.6 billion. USA. For this, we invited the Egyptian side, the new format of economic cooperation, namely, to consider the possibility of concluding a bilateral preferential trade agreements,” – said Kuleba.

The Ministers also discussed joint efforts on diversification of cooperation in trade-economic, investment, tourist and humanitarian spheres.

The sides also noted the significant progress made in recent years in the political arena, and discussed concrete next steps for the exchange of visits at high and highest levels.

Kuleba noted the importance of ensuring the upward dynamics of bilateral relations and invited the Egyptian counterpart to pay an official visit to our country after the improvement of the epidemiological situation.

The foreign Minister highlighted the current status of bilateral legal base and agreed to contribute to its extension.

The foreign Ministry added that Egypt is a key economic partner of Ukraine on the African continent. Total trade in goods and services between Ukraine and Egypt in 2019 amounted to 2,631 billion. USA, for 5 months of the current year this figure exceeded $ 1 billion. USA.

In 2019, Egypt was visited by about 1.49 million Ukrainian tourists. According to this indicator, Ukraine took the second place after Germany.

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