MOSCOW – Minister of Planning and Economic Development Hala el Saeed said the volume of Egypt’s trade exchange with the BRICS Plus countries hits nearly 25 billion dollars as per national statistics in various sectors.
Saeed was participating in a session addressing the theme of “expanding BRICS group – new chances for expanding economic cooperation” held as part of the 27th St. Petersburg International Economic Forum, that started activities on June 5 and will last until June 8 in Saint Petersburg city, Russia.
After expansions, the BRICS Plus bloc is offering greater commercial and exportation chances in several sectors, she added.
Saeed said trade flows grew among the BRICS countries in recent years to exceed 350 billion dollars in 2022, which, she added is showing an expansion in the volume of trade.
The minister said Egypt’s trade volume with the global market exceeded more than 100 billion dollars.
She pointed out to cooperation in the field of manufacture, joint projects and transfer of technology between Egyptian companies and BRICS Plus countries’ companies.
She said Egypt’s ratio of exports to gross domestic product was up from 6.7% in 2015 to 10.7% in 2022.
The 27th St. Petersburg International Economic Forum (SPIEF 2024) is attended by delegates from many countries.
In addition, SPIEF 2024 also has more than 10 business dialogues, including the frameworks of the Eurasian Economic Union (EAEU) – Association of Southeast Asian Nations (ASEAN), Russia – Africa, Russia – Latin America, Russia – China, Russia – South Africa and other bilateral meetings.
It is expected that about 1,000 documents will be signed at the forum. In addition to the main business program, the Youth Economic Forum, Small and Medium Enterprises (SME) Forum, BRICS Innovative Business Forum and Drug Security Forum will be held on the sidelines of SPIEF.
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