Egypt, Mercosur sign free trade deal in Argentina

Egypt and Mercosur signed a free trade agreement in Argentina.

Egypt, Mercosur sign free trade deal in Argentina

Egypt could triple its trade balance with South American trade bloc Mercosur over the next few years, as it pushes to secure food supplies, the North African nation's trade minister said on Tuesday.

Egypt and Mercosur signed a free trade agreement in Argentina on Monday.

The trade balance between Egypt and Mercosur, which groups agricultural exporters Argentina, Brazil, Uruguay and Paraguay is currently $2.5 billion, Rachid Mohamed Rachid said in an interview in Buenos Aires.

The ministry official said Egypt was the first African and first Arab country to sign a deal with the bloc, and it was hoped the agreement would open doors between the regions.

Bilateral trade with these countries was previously mostly limited to just Argentina and Brazil.


Agencies

Güncelleme Tarihi: 04 Ağustos 2010, 13:50

SeydiAli

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