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Sunday, 18 October 2020

Diplomacy + Foreign Trade on Sunday 18 October 2020

Topping coverage on the foreign trade front: Egypt’s non-oil exports declined by just 3.5% y-o-y in 9M2020, totaling c. USD 18.15 bn compared to USD 18.8 bn in 9M2019, according to a General Organization for Export and Import Control (GOEIC) report picked up by Al Mal. Figures indicate that exporters have begun to see improved trading conditions, with non-oil exports rising 4% y-o-y in September to USD 2.15 bn and seven export councils reporting increased export values.

In other trade and investment news:

  • The trade ministry has cut tariffs on steel billets to 13% from 16% as it phases protective tariffs over a three-year period. The tariffs were controversial among iron and steel manufacturers, who sought redress in court;
  • Some 70 French companies attended a seminar on investing in Egypt post-covid, according to a Planning Ministry statement;
  • The Egyptian Federation of Investors Association is pushing investment in Africa.

Shoukry’s EU-focused weekend: Spain’s Arancha González Laya was in Cairo this weekend for talks with Foreign Minister Sameh Shoukry that included a joint presser (watch, runtime: 28:30). Laya also met President Abdel Fattah El Sisi. Shoukry also spoke this weekend with his German,

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