Egypt aims to boost its exports to Jordan and some Gulf countries as one step towards a goal of doubling its global exports by 2013
, the country's minister of trade and industry said.
Egypt and Jordan agreed to reduce some transportation fees and build storage centres in both countries, Rachid Mohamed Rachid said at a conference with his counterpart and the Arab states' transport ministers.
Egypt aims to increase overall exports to 200 billion Egyptian pounds by 2013, and also hopes to boost exchanges with other Arab countries like Iraq and Syria that it trades with via Jordan, Rachid said.
Egypt and Jordan have strong political and economic ties and have been engaged in talks for over a year to create a free trade zone. The two countries trade in a variety of goods from natural gas, heaters and television sets to food products.
There are 970 Jordanian companies in Egypt with total investments of around $298 million while the investments of Egyptian companies in Jordan are about $355 million.
In March, Egypt's cigarette monopoly Eastern Company signed a deal to produce, market and distribute tobacco products in Jordan.
In May, Egypt's fixed-line monopoly, Telecom Egypt said it plans to expand its services in Jordan and connect the country to an undersea cable.
Source: Reuters - 18/06/2010
Egypt and Jordan agreed to reduce some transportation fees and build storage centres in both countries, Rachid Mohamed Rachid said at a conference with his counterpart and the Arab states' transport ministers.
Egypt aims to increase overall exports to 200 billion Egyptian pounds by 2013, and also hopes to boost exchanges with other Arab countries like Iraq and Syria that it trades with via Jordan, Rachid said.
Egypt and Jordan have strong political and economic ties and have been engaged in talks for over a year to create a free trade zone. The two countries trade in a variety of goods from natural gas, heaters and television sets to food products.
There are 970 Jordanian companies in Egypt with total investments of around $298 million while the investments of Egyptian companies in Jordan are about $355 million.
In March, Egypt's cigarette monopoly Eastern Company signed a deal to produce, market and distribute tobacco products in Jordan.
In May, Egypt's fixed-line monopoly, Telecom Egypt said it plans to expand its services in Jordan and connect the country to an undersea cable.
Source: Reuters - 18/06/2010
