Egypt’s exports to Malaysia increased 35 percent during 2021, amounting to about $126.7 million, compared to about $94 million in 2020, according to the Minister of trade and Industry Nevine Gamea.
Gamea elaborated that Egypt mainly exports citrus, phosphates, chemical and mineral fertilizers and fruits to the Malaysian market.
The minister added that Malaysian investments in Egypt amount to $60 million in 26 projects in the oil, gas, electricity, construction, contracting, trade, tourism and information technology sectors, pointing out that Egyptian investments in Malaysia have reached $20 million in the chemical and wood industries sector.
This came during Gamea’s expanded session of talks with the Malaysian Minister of Plantation Industries and Commodities (MPIC) Zuraida Kamaruddin, and her accompanying delegation, which dealt with a review of aspects of industrial, investment and commercial cooperation between the two countries and a number of economic files of common interest.
The minister said that the meeting dealt with ways to enhance joint cooperation between the two countries in the field of Malaysian palm oil production in Egypt and export to regional and continental markets.
She explained that the coming period will witness more coordination between the Egyptian Commercial Office in the Malaysian capital, Kuala Lumpur, and the Malaysian Palm Oil Council to start actual steps to establish joint Egyptian-Malaysian projects in the field of palm oil derivatives production and to benefit from the distinguished investment components in the Egyptian market, as well as the great Malaysian expertise and capabilities in this field.
