Complex Made Simple

Egypt-Chile trade exchange hits $24 million

South American country accounts for 17 per cent of Egypt’s energy needs, aims to reach 20 per cent by 2020

The Egyptian Businessmen’s Association (EBA) reveals that the trade exchange between Egypt and Chile amounted to roughly $24 million during 2014.

Chilean investments in Egypt amounted to $51m during the same period, says EBA, adding that Chilean companies participated in many of the Egyptian projects through 2015, such as theSuez Canal project and building 1m housing units in addition to the 1.5m-acre project.

For his part, Fernando Zalaquett Sepúlveda, ambassador of Chile in Egypt, confirms that his country is looking forward to closer ties with Egypt as it is the most important global market.

He points out that Chile covers Egypt’s energy needs by 17 per cent, confirming that it aims at reaching 20 per cent by 2020, reports Egypt-based Elfagr.

Mohammed Ayman, a member of the EBA, says that the Chilean industries are of the main economic pillars in the country, pointing out that major Chilean investments are in the energy sector, followed by tourism and logistics, stressing the importance of providing all the facilities for Chilean businessmen to invest in Egypt.

($1 = AED3.67, at the time of publishing)