Egyptian-French trade exchange hits €2.8bn

22nd February 2016

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Mideast Egypt — FILE -- In this Wednesday, Feb. 2, 2011 file photo, a cargo ship transits the Suez Canal en route from the Mediterranean Sea to the Gulf of Suez at the city of Suez, Egypt. Suez Canal authority chairman Mohab Mamish said Saturday, Aug. 31, 2013, that a "terrorist element" had tried to disrupt navigation in the waterway by targeting a Panama-flagged ship. Authorities have taken extra security measures to safeguard the waterway as lawlessness and violence gripped Sinai, where militants and smugglers rove relatively freely and target security forces and posts. (AP Photo/Emilio Morenatti, File)

Trade volume between Egypt and France rose in 2015 to €2.8bn, Head of the French Chamber of Commerce and Industry in Alexandria, Ayman Badawi revealed Monday.

Badawi said that 2015 was a very good year for the Egyptian- French relations in which President Holland attended inauguration of New Suez canal. Following this, France’s Prime Minister visited Cairo last October and announced a 15 per cent increase in Egyptian-French trade exchange.

Badawi added that France is Egypt’s 5th largest foreign investor with the current sum of French companies in Egypt amounting to 130 companies with 33,000 employees in several fields. French companies in Egypt work in banking, air and sea transport, tourism, telecommunications, energy, construction, and food and pharmaceutical industries.