Pakistan and Egypt are two brotherly, friendly countries having long-lasting, historical relations, sharing common goals, issues and striving for durable peace, development , cooperation , harmony and having the strong pledge to eradicate terrorism, extremis, discrimination on the basis of universal brotherhood. Pakistan’s support to Egypt in its war against Israel and Egypt’s support in Pakistan’s war against India and at a difficult time when Soviet Union invaded Afghanistan Egypt support was in sweet memories of Pakistanis.
Arab the Republic Egypt is a transcontinental country spanning the northeast corner of Africa and Southeast corner of Asia by a land bridge formed by the Sinai Peninsula. Egypt is Mediterranean country bordered by the Gaza strip and Israel to the northeast, The Gulf of Aqaba to the east , the Red Sea to the east and South, Sudan to the south , and Libya to the west. Across the Gulf of Aqaba lies Jordon, and across from the Sinai Peninsula lies Saudi Arabia. Egypt has one of the largest histories of any modern country, emerging as one of the world’s first nation states in the tenth millennium BC.
Abdel Fattah el Sisi is the president and Sherif Ismail is the prime Minister of Egypt.
Egypt’s economy depends mainly on agriculture, media, petroleum imports, natural gas and tourism, there are also more than three million Egyptians working abroad, mainly in Libya, Saudi Arabia, The Persian Gulf and Europe. Egypt has developed energy based on oil, coal, natural gas and hydro power.
Economic condition have stated to improve considerably, after a period of stagnation, due to the adoption of more liberal economic policies by the government as well as increased revenues from tourism and booming stock market. In its annual report, the International Monetary Fund (IMF) was rated Egypt as one of the top countries in the world undertaking economic reforms. Egypt’s most prominent multinational companies are the Orascom Group and Roya Contact Centre.
Tourism is one of the most important sectors in the Egypt’s economy. More than 12.8 million tourists visited Egypt in a year, providing revenue of nearly $ 11 billion a year. The tourism sector employs about 12% of Egypt’s workforce. The Gaza Necropolis is one of the Egypt’s most well known tourist’s attractions; it is only one of the wonders of the Ancient world still existence in Egypt’s beaches on the Mediterranean and Red Sea , which extends to over 3000 kilometer are also popular tourists destinations, the Gulf of Aqaba beaches, Safaga, Sharmul El Sheikh, Hurghada, Ras Sidra and Marsa Alam are popular cities.
Egypt is bisected by the highly fertile Nile Valley, where most economic activities take place.
Economic Indicators
GDP (Purchasing power parity) : $1.105 trillion
GDP (Official Exchange rate ) : $ 342.8 billion
GDP per Capita (PPP) : 12,000
Agriculture products : cotton, corn, wheat, beans, fruits,
Vegetables, cattle
Industries : Textiles, food processing, tourism,
Chemicals, pharmaceuticals,
Hydrocarbons, construction, cement
Exports : $14.73 billion
Export Commodities : Crude oil, Petroleum products,
Fruits and vegetables, cotton, textiles,
Metal products
Export Partners : Saudi Arabia 9.1%, Italy 7.5 %,
Turkey 5.8%, UAE 5.1%, UK 4.4%,
India 4.1 %
Imports : $ 50.07 billion
Import Partners : China 13%, Germany 7.7%, US 5.9%,
Turkey 4.5%, Russia 4.4%, Italy 4.4%,
Saudi Arabia 4.1%
Import Commodities : Machinery and equipment, food stuff,
Chemicals, wood products, fuels,
During 1967 and 1973 wars, Pakistan stood with Egypt and its staunch support to Egyptians brothers is now part of history and is in sweet memories of Egyptian people.
In March 2017 the Islamabad Chamber of Commerce and Industry signed a protocol of cooperation with Cairo Chamber of Commerce to further improve bilateral trade and commerce relations between Pakistan and Egypt. Both chambers agreed to work towards increasing direct connectivity and business linkages between the private sectors of Pakistan and Egypt in order to explore new areas of mutual collaboration.
Trade volume between Pakistan and Egypt is around US$ 200 million.
There is a dire need to do serious efforts to enhance bilateral trade and investments. Following are some steps to be taken in this direction:-
Ø Formation of Joint Chambers of Commerce and Industry
Ø Single country exhibition
Ø Participation of Egyptian business delegation in Expo and My Karachi exhibitions.
Ø Facilitations by both governments for obtaining visa for business communities of both countries
Ø Gawadar and Swiss canal linkage to extend trade route to African and European countries
Ø Egyptian investment in Pakistan and Pakistani investment in Egypt
Ø Egyptian business people to take advantage of China Pakistan Economic Corridor