The Egyptian government has begun consultations with the European Union to obtain a grant of two billion euros to finance the electricity interconnection projects between Egypt and Italy and Greece.

According to Egyptian government sources, the two projects aim to connect the Egyptian electrical grid to the European grid and provide clean energy to Europe.

The sources pointed to the continuation of feasibility studies for the two projects, while stressing that they will contribute to reducing carbon emissions and achieving benefits for all parties.

Discussions between the Egyptian government and EU officials have been underway for some time, and these talks have progressed in recent months, suggesting the seriousness that the parties concerned are giving to these projects.
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#Egypt #Electric_Grid #European_Union #Greece #Investment #Italy #Trade

The Central Agency for Mobilization and Statistics reported that the volume of trade exchange between Egypt and the Arab countries decreased to $ 26 billion during 2023, compared to $ 29.5 billion in 2022.

The data showed that the value of Egyptian exports to Arab countries reached $ 13.6 billion during 2023, compared to $ 12.5 billion during 2022.

Saudi Arabia topped the list of Arab countries that imported from Egypt with a value of $ 2.7 billion during 2023, followed by the UAE with $ 2.2 billion, Libya with $ 1.8 billion, Sudan with $ 984.4 million, and Algeria with $ 850.3 million.

The agency pointed out that the most important Egyptian commodity groups exported to Arab countries during 2023 were vegetables and fruits with a value of $ 1.
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#Algeria #Egypt_Economy #Egypt_News #Egyptian_Central_Agency_for_Mobilization_and_Statistics #Egyptian_Exports #Kuwait #Oman #Qatar #Saudi_Arabia #Sudan #Trade_Exchange #UAE

The Algerian Minister of Industry, Ali Aoun, announced that the volume of trade exchange between Algeria and the European Union amounted to $ 46.5 billion during the first 11 months of 2023.

This came during his speech at a seminar organized by the Delegation of the European Union in Algeria in cooperation with the Algerian Agency for Investment Promotion and said: “Algeria is living a new era and is committed to building bridges of cooperation with the European Union as a historic partner.”

“The association agreement between the two sides has made the European Union Algeria’s first trading partner for several years,” Aoun said, explaining that most European direct investments in Algeria are still concentrated in the hydrocarbon sector.
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#Algeria_News #Algerian_Investment_Promotion_Agency #Algerian_Minister_of_Industry #Algerian_Ministry_of_Foreign_Affairs #Ali_Aoun #European_Union #Hydrocarbon_Sector #Natural_Gas #Trade_Exchange

The Niger government requested assistance from Algeria to secure trade routes between the two countries, due to the increasing activity of armed groups in northern Niger, near the border with Algeria.

The Nigerian government did not reveal the nature of the requested assistance, and whether it includes military support for commercial convoys.

Algeria has borders with Niger and Mali in the south, with Tunisia and Libya in the east, with Mauritania and Western Sahara in the southwest, and with Morocco in the west.

This request was made by the Minister of Foreign Affairs and International Cooperation in the Nigerien government, Bakary Yawo Singari, during his meeting with Chargé d’Affairs of the Algerian Embassy, Sherif Hussein, on Tuesday evening.
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#Algeria #Algeria_News #Algerian_Economy #Armed_Groups #Borders #Niger #Niger_News #Nigerian_Economy #Trade

Trade between Morocco and Algeria witnessed a decline over the past year, falling by 62% year-on-year to reach 1.3 billion dirhams ($130 million), the lowest level since 1999.

This decline comes in light of the severing of diplomatic relations between the two countries since 2021, which added new tensions to the tense historical relations due to several disputes, most notably the Sahara issue.

According to data from the Moroccan Exchange Office, Moroccan imports from Algeria fell to 650 million dirhams last year, a decrease of 61% compared to the previous year, while Moroccan exports to Algeria amounted to about 653 million dirhams, recording a decrease of 18%.

Trade between the two countries in 2021 was estimated at about 6.9 billion dirhams ($695 million), of which 5.8 billion dirhams were Moroccan imports from Algeria.
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#Algeria #Dirham #Dollar #Economy #European_Union #Exchange #Import #Maghreb #Morocco #Trade

The opening of the Ras Jadir border crossing between Libya and Tunisia, which was scheduled for Monday, was postponed after protests organized by citizens in the city of Zuwara.

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The protesters expressed their rejection of the decisions issued by the Minister of Interior in the outgoing National Unity Government, describing them as carrying ethnic and racist tendencies against the Amazigh in Libya.

The protesters considered that these decisions fall within the policies of deliberate marginalization targeting their areas, including not allocating sufficient budgets for infrastructure and solving problems such as water and salaries, noting that these policies include ethnic discrimination and sectarian incitement.
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#Dollar #Fuel #Libya #Libyan_Government #Libyan_Ministry_of_Interior #Ras_Jadir_Crossing #Trade #Tunisia #Tunisian_Government

A group of Chinese companies expressed their willingness to participate in the development of infrastructure and industrial sectors in Libya.

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The discussions took place during two negotiating sessions on Monday with the Minister of Economy and Trade in the Interim National Unity Government, Muhammad Al-Hawaij, attended by senior officials from both parties, including the President of the General Federation of Chambers of Commerce, Industry and Agriculture, Muhammad Al-Raid, and the Chairman of the Business Owners Council, Rashid Sawan.

The discussions covered the possibilities available for cooperation between the two countries in the fields of investment and trade and discussed how to strengthen economic relations through signing bilateral agreements and memorandums of understanding that serve common interests.
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#China #Development #Industry #Investment #Libya #Libyan_Economy #Libyan_Infrastructure #Libyan_Ministry_of_Economy #Mohamed_Al_Hawaij #Reconstruction #Trade

Turkey announced its efforts to increase the volume of trade exchange with Tunisia to $3 billion annually, according to what was stated by the Turkish Minister of Trade, Omar Polat.

Polat revealed, during a press conference in Tunis at the conclusion of the Second Turkish-Tunisian Business and Investment Forum, that the volume of current trade exchange between the two countries amounts to $1.6 billion, and pointed out that Turkey is working to raise it to $2 billion within a short period, then to $3 billion later.

The Turkish minister explained that his country intends to increase the volume of its investments in Tunisia, which currently amounts to $700 million, according to what was reported by Anatolia Agency.
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#Investment #Trade_Exchange #Tunisia #Tunisian_Economy #Turkey #Turkish_Economy #Turkish_Tunisian_Relations

Trade exchange between Morocco and Israel witnessed a noticeable increase, as the volume of trade between the two countries reached $8.5 million last May, an increase of 124% compared to the same period last year.

According to the Moroccan newspaper “Hespress”, the total cumulative value of intra-regional trade during the first five months of this year reached $53.2 million, achieving a growth of 64% compared to 2023.

A report issued by the Abraham Accords Institute indicated that there is an upward trend in trade between Israel and Morocco, the United Arab Emirates, Jordan, Egypt, and Qatar.
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#Abdel_Rahim_Azraoui #Abraham_Accords_Institute #Egypt #Israel #Israeli_Exports #Jordan #Mohamed_VI_University #Morocco #Qatar #Trade_Exchange #UAE

Mounir Qazm, head of the “Supreme Council of Tunisian-Libyan Businessmen” organization in Medenine, stated that the Tunisian regions and governorates adjacent to the Ras Jadir crossing are currently facing a major commercial recession.

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Qazm confirmed in press statements that the closure of the crossing affects about 50,000 merchants and their families who have become unemployed, describing this situation as very unfortunate.

Qazm pointed out that the Ras Jadir crossing is the beating heart of the economy in the southeast region, and a major driver of investment in neighboring governorates where the unemployment rate exceeds 20 percent, compared to the general rate of 15.8 percent during the year 2023.
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#Abu_Kammash #Ben_Guerdane #Libya #Mounir_Qazm #Ras_Jadir_Crossing #Trade #Tunisia #Tunisia_s_Djerba_Island #Zouara_City