Trade minister puts volume of 2022 trade exchange with Oman at $1.80bn

Trade and Industry Minister Ahmed Samir said Monday that the volume of trade exchange between Egypt and Oman reached 1.80 billion dollars in 2022, rising from 651 million dollars the year before.

This is a whopping increase by 66 percent, Samir said in a speech at the Egyptian-Omani business forum held on the sidelines of Sultan Haitham bin Tareq’s current visit to Egypt.

He added that Egyptian investments in Oman amounted to 860 million dollars in 142 projects in the fields of tourism, business and infrastructure.

The minister hailed as “historical” and “strategic” relations between the two Arab countries.

Cairo and Muscat are seeking to boost economic, industrial and investment cooperation with the aim to enhance economic growth of both sides, Samir said.

Samir told the forum that his Ministry is working to expand the participation of the private sector in establishing projects and attracting Omani investments to Egypt’s Suez Canal Economic Zone (SCZone).

Egypt is the gate to African markets, the minister reminded, noting that this is an asset that Omani businessmen should benefit from, Samir said.