CAIRO: According to Minister of Supply Khaled Hanafy, Egypt could benefit from Cyprus’ geographical position in order to open new export markets of food products to the EU. Frozen fruit and vegetables are being considered for exports, said Hanafy in a statement.
The minister discussed exporting the Food Industries Holding Company’s products to Cyprus during his meeting with Cypriot Minister of Agriculture and Natural Resources and Environment Nicos Kouyialis Friday 8 January.
During the meeting, Kouyialis expressed his willingness to create a “strategic alliance” with Egypt to increase bilateral trade between both countries. Relations between Egypt and Cyprus have taken a new step following a trilateral summit between Egyptian, Greek, and Cypriot leaders in Athens in December. The three countries had agreed on further cooperation in various fields.
Bilateral trade between Egypt and Cyprus was valued €67.5m ($73.2m) in 2013, in the latest announced figure. The volume of bilateral trade between Egypt and the EU from January to October 2015 was worth $16.2bn, with Egypt exporting the worth of $3.8bn. There are 140 Cypriot companies operating in the Egyptian market.
