Ahmad 
The head of the Egyptian Commercial Representation Authority, Yehia El-Watheq Billah, announced that the volume of trade exchange between Egypt and the BRICS countries has reached about $25 billion.
El-Watheq Billah stressed that Egypt’s joining the BRICS group opens up broad horizons for investment and trade, indicating that Egypt is a strategic gateway to the Middle East and Africa, and an important station in the Chinese Belt and Road Initiative, in addition to its enjoyment of a major sea corridor through the Suez Canal.
The Egyptian official added that his country’s joining the bloc provides new investment opportunities, not only within Egypt, but also allows investors to access the markets of Europe and Africa, pointing to the trade advantages enjoyed by Egypt, including its membership in the COMESA region, which includes 21 African countries and allows mutual customs exemptions.
Al-Wathiq Billah revealed expectations of concluding the African Continental Free Trade Agreement by the end of this year, which will allow exports to 54 African countries without customs duties, stressing that this represents a golden opportunity for the BRICS countries to establish logistics centers in Egypt and benefit from these privileges.
Regarding future plans, Al-Wathiq Billah explained that Egypt will focus on advancing the food security file and enhancing cooperation in the fields of medicine and infrastructure with the bloc countries.
Al-Wathiq Billah stressed that Egypt’s accession to the BRICS bloc represents a historic opportunity to enhance the country’s economic and commercial position on the international scene, stressing the importance of investing this opportunity to achieve sustainable economic growth and improve the standard of living of Egyptian citizens.
It is noteworthy that the BRICS group, which includes Brazil, Russia, India, China and South Africa, established the New Development Bank with a capital of $100 billion to finance infrastructure and sustainable development projects in member states and emerging economies. Egypt’s membership in the bank was announced during the BRICS leaders’ summit in December 2021. Egypt officially joined the BRICS group on January 1, 2024, and Egypt aspires, through its membership, to reduce the demand for the dollar by dealing with the bloc’s common currency system or local currencies.
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