An Egyptian official on Wednesday confirmed the signing of export contracts between Egypt and the Kurdistan Region worth USD $8 million over the last three months. Ahmed Antar, the head of the Egyptian Commercial Service (ECS), said the agreement was part of Egypt’s agenda to implement its “strategy for export development.”
“The ECS is currently working on increasing its exports of traditional and non-traditional products to various markets,” Antar said. The ECS head added that the increase in exports was meant “to facilitate the access of Egyptian products to foreign markets.”
Antar also noted the fruitful business prospects available in the Region. “The Kurdistan Region is one of the most promising markets, and it represents a good opportunity for Egyptian exports,” he stated.
“The Kurdistan market depends primarily on the import of more than 95 percent of its consumer needs, worth up to about $20 billion annually,” Antar continued. Egypt’s exports to the Region have seen significant progress in recent years, according to the ECS head.
Before the opening of a trade office in 2011, Egyptian exports to Kurdistan rose from $5 million to $37 million between 2010 and 2016. Antar mentioned the deals included food products and crops, furniture, leather, footwear, chemical products, and clothing. The ECS leader noted Egypt’s chief exports to the Kurdistan Region were electrical appliances, especially televisions.