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Egypt, Russia trade exchange rise 86% to reach $5.4b last year

CAIRO: Egyptian-Russian trade exchange rose by 86 percent to reach $5.4 billion in 2014, the Ministry of Trade and Industry said on Monday. Egypt’s President Abdel Fattah al-Sisi is scheduled to visit the Russian capital of Moscow on Tuesday. Russian exports to Egypt increased by 22.3 percent last year, according to a statement by the Ministry of Trade and Industry. Wheat ... Read More »

Egyptian customs imposes duty on steel import to encourage domestic industries

CAIRO: Customs should be applied on imported steel in order to encourage domestic industries, Mohamed Hanafy, the general manager of the Chamber of Metallurgical Industries told media. Hanafy noted that they have a comprehensive database of all steel imports, pointing out that imports have increased notably over the past two month. “Steel importers do not mind paying such fees as the ... Read More »

Egypt aims to import LNG via Jordan

CAIRO: Egypt is seeking liquefied natural gas (LNG) via Jordan, three traders told on Friday, as the two neighbours bolster LNG imports following their recent installation of floating storage and regasification units (FSRUs). State-owned gas company EGAS is seeking four LNG cargoes for delivery to Jordan’s Aqaba gas terminal which will then be piped to Egypt, the traders said. EGAS ... Read More »

Ukraine, Egypt agrees to deepen cooperation among customs agencies

KIEV: Ukraine and Egypt have agreed to deepen cooperation between the customs agencies, which will simplify export and import operations and customs clearance, as well as liberalize the customs procedures in Ukraine for Egypt-made farm produce, the Ukrainian Economic Development and Trade Ministry said. The agreement was made at a meeting of Ukraine’s Deputy Economic Development and Trade Minister, who ... Read More »

Egypt police 77 Nile boats seized in security campaign

CAIRO: Egypt’s Environment and Water Bodies Police seized 77 Nile boats for operating without license and violating river traffic rules, after the launch of a wide security campaign, Youm7 reported Saturday. Strict security measures were taken especially after the accident happened in July when a cargo ship collided with a ferry boat with over 60 passengers celebrating engagement. The collision ... Read More »

Egyptian Customs asks Kia Carens to pay due customs duties

CAIRO: Egyptian Customs Authority estimated total customs due on Kia Carens 2016, 1600cc, at approximately EGP 79,000. The Egyptian Customs Authority has outlined the customs duties on the 2016 models of the Kia Carens and Kia Rio. The Authority explained that the customs are divided into an EGP 48,000 customs tariff, in addition to a sales tax of approximately EGP ... Read More »

Egypt exports to EU reach EUR 25 billion in 2015

CAIRO: According to Minister of Agriculture Marek Sawicki, food exports continue to grow and may reach a record level of EUR 25 billion in 2015. Despite a decline in the value of exports to Eastern Europe, notably in the wake of Russian sanctions against EU countries imposed a year ago, Polish agri-food companies are not slowing down and are still looking ... Read More »

Egypt opens enlarged Suez Canal

EGYPT: Amid exceptionally tight security, Egypt will open an expansion to the Suez Canal today with dignitaries from around the world flying in for the occasion. The Suez extension was announced by President Abdel Fattah al-Sisi a year ago. The $8.2bn project includes a 35 km parallel waterway flanking the existing 145-year-old waterway. It also includes a deepening and widening ... Read More »

Egyptian air customs foils attempt to smuggle 761 law books  

CAIRO: Egyptian authorities recovered a collection of 761 law books and volumes that date back to the 1900’s on Tuesday at Cairo International Airport. The antiquities unit at Cairo International Airport succeeded to stop the illegal smuggling of a collection of 761 law books and volumes that were bound for Kuwait. The antiquities unit is under the authority of the ministry ... Read More »

Tsipras in Egypt for Inauguration of New Suez Canal

ATHENS: Alexis Tsipras Greece Prime Minister Alexis Tsipras will visit Egypt on Thursday (August 6) to participate in the inauguration of a new Suez Canal waterway, while he will also meet with French President Francois Hollande, Egyptian President Abdel Fattah al-Sisi, and Russian Prime Minister Dmitry Medvedev who will attend the event. Tsipras is expected to discuss the current developments ... Read More »

Egyptian exports decline 20% in last five months

CAIRO: The disclosure of the reasons behind the decline in non-petroleum Egyptian exports during the first five months of 2015 by 20% compared to the same period in 2014 is not only dependent upon official statements. Minister of Trade, Industry and Small Industries Mounir Fakhry Abdel Nour on May 2 said that, “The decline in Egyptian exports is linked to ... Read More »

Egypt digging trench near Gaza border to curb smuggling

CAIRO: Egyptian army is in the process of digging a trench in the northern Sinai Peninsula near the border with Gaza in order to curtail smuggling, security sources told. Egypt has already put in place a one-kilometer security buffer zone on its border with the Palestinian enclave in a bid to stave off militant attacks, which have sharply risen since ... Read More »

Russian grain exporters to pay in rouble to Egypt

MOSCOW: An Egyptian farmer holds wheat crops on a farm in Beni Suef, 75 miles, (120 kilometers), south of Cairo, Egypt. Egypt, the world’s largest wheat importer, is studying a proposal put forward by some Russian grain exporters to pay for Russian wheat in roubles, the country’s supply minister said on Monday. “It was a suggestion made on their part ... Read More »

Egypt exports hit £290m in 4 months to Britain

CAIRO: The value of Egypt’s exports to Britain in the first four months of the current year stood at £290 million, the same figure reported in the same period of 2014. During the January-April period, Egypt’s imports from Britain declined by nine per cent to £289m, compared with £317m last year. Britain’s exports to countries in the Middle East and ... Read More »

Cairo airport customs foils bid to smuggle 5 antique coin

CAIRO: An attempt to smuggle five antique coins was foiled by the authorities at Cairo International Airport Sunday. The coins, dating back to the Mohamed Ali Dynasty (1805-1952), were seized with an Italian passenger heading to London, Cairo airport security director Major general Ayman Abdel Fatah told media. Officials at the archaeological unit at the airport inspected the objects and approved ... Read More »

Egypt’s non-petroleum exports down 20% to $8bn in May 2015

CAIRO: Egypt’s non-petroleum exports amounted to $8bn in May 2015, compared to $10bn in the same period last year, with a decrease of 20%, according to a report from the General Organization for Exports, Imports and Control (GOEIC). Chemical and fertiliser industry exports decreased the most, going from $233m in May 2015, to $419m during the same period in 2014- ... Read More »

Australian LNG arrives in Egypt

CANBERRA: Egypt received a cargo of liquefied natural gas from Australia after the exporter sent two shipments to the region in the past two years, signaling increasing demand. The Woodside Rogers tanker arrived at Egypt’s Ain Sokhna terminal Thursday after loading at Australia’s Dampier port on May 12, according to ship-tracking data on Bloomberg. Middle East and Europe will absorb ... Read More »

Africa, Egypt to sign trade deal soon

CAIRO: Senior African officials negotiating a trade deal in Egypt to create a common market across half the continent said Monday the pact was ready to be signed. The Tripartite Free Trade Area (TFTA) spanning 26 countries is to be launched at a summit of heads of state and government on Wednesday in the Red Sea resort town of Sharm ... Read More »

Egypt exports, GDP expect stronger growth in coming years

CAIRO: Egypt’s gross domestic product (GDP) and exports are projected to see “stronger growth” in the coming years, boosted by increasing foreign investments’ inflow into major projects, said HSBC Bank Egypt in a Monday report. In its latest Trade Forecast Report, HSBC said Egypt’s growth forecasts have improved significantly over the last year, thanks to government’s commitment to implement reform ... Read More »

Egyptian premier meets Customs workers at Alexandria port

CAIRO: Prime Minister Ibrahim Mahlab held a meeting on Saturday with workers of the Egyptian Customs Authority at Alexandria port. During the meeting, Mahlab reviewed issues raised by the workers on the out-of-use containers and efforts exerted to lift out sunken ships off the port. Also, the PM noted that the police and the army are ready to help clean ... Read More »