Economic relations between Egypt and the Mercosur will see a quantum leap during the upcoming phase, Trade and Industry Minister Tareq Qabil asserted on Sunday.

The announcement came following a recent successful visit of an Egyptian delegation to some states of the bloc to probe establishing new frameworks to boost trade and investments ties. 

While in Argentina, the Egyptian delegation held fruitful meetings with bodies concerned with foreign trade to discuss building investment partnerships between the two countries’ private sectors, especially after the free trade agreement between Egypt and the Mercosur came into force.

During their visit to Brazil, members of the delegation touched on the possibility of forming an Egyptian-Brazilian economic committee to foster bilateral cooperation in the production and service sectors, which in turn could lead to a great boom in the trade exchange and joint investments, Qabil said in a statement released by the Ministry