The potential for increasing the export of such goods from Kazakhstan to Egypt is 291,6 million US dollars

On June 21-23 2021 the delegations of the member states of the Eurasian Economic Union (EAEU) and the Arab Republic of Egypt held negotiations in Moscow (Russian Federation).

During the negotiations, the parties discussed issues of access to the goods market, fixed agreed positions on the main provisions of the Agreement and outlined a schedule for further work.

The EAEU and Egypt noted the high importance of the future agreement for the mutual development of trade and economic relations and expressed their readiness to provide necessary support to the delegations for the successful progress of the negotiations.

The trade agreement will create new opportunities for Kazakhstan to develop and diversify trade with Egypt. The trade turnover between the Republic of Kazakhstan and Egypt at the end of 2020 amounted to 84,3 million US dollars and 25,5 million US dollars for the four months of 2021.

Exports from Kazakhstan to Egypt in 2020 amounted to 5,5 million US dollars. The main export goods from Kazakhstan to Egypt are: phosphinates-2,9 million US dollars (53,9%), sulphur -1,5 million US dollars (26,9%), ferro-alloys - 899 thousand US dollars (16,5%).

Imports to Kazakhstan from Egypt in 2020 amounted to 78,9 million US dollars. The main import goods to Kazakhstan from Egypt are: mixtures of odoriferous substances– 34,6 million US dollars (43,8%), prepared binders for foundry moulds or cores- 30,7 million US dollars (38,9%), medicaments - 8 million US dollars (10,2%), citrus fruits- 1,6 million US dollars (2%).

Egypt is a perspective direction for increasing the export of kazakhstani goods. The potential for increasing the export of such goods from Kazakhstan to Egypt is 291,6 million US dollars.

The parties agreed to hold the next round of negotiations in November 2021 in Egypt. Until then, the negotiating teams will continue intensive interaction in the video-conference format.