Trade and Industry Minister Nevine Gamea
Trade and Industry Minister Nevine Gamea

Trade Deal Between Egypt, UK Expected 'Soon'


Egypt will sign a trade partnership deal with the UK "soon" after Brexit, Trade and Industry Minister Nevine Gamea said on Thursday.

Gamea said the British market is among the most important export markets for several Egyptian commodities, and enjoys competitive advantages and the acceptance of consumers in the UK.

She set trade volume between the two countries at GBP 2.14 billion ($2.8 billion) last year, up from GBP 1.96 billion in 2018.

Gamea did not reveal details on when a deal between the two countries would be signed.

Her statements come days after Egyptian Prime Minister Mostafa Madbouly said that Britain will have to take advantage of Egypt's location as a hub for trade and a gateway to Africa after Brexit is wrapped up.

At present, Britain's final exit from the European Union remains on hold amid faltering negotiations between the UK and the bloc on a final deal.

The talks are expected to continue into next week, with an important meeting by European leaders due then.

Britain left the EU in January, with ongoing talks on a crucial trillion dollars of free trade deal ongoing before exit from the bloc completes on December 31.