The Federation of Chambers of Commerce issues a detailed report on the export opportunities of Egyptian products to the Serbian market and promising opportunities for plastic products, fertilizers, electrical appliances, fruits, vegetables and paper products.
Business hub – cairo
Ibrahim El-Araby, President of the General Federation of Chambers of Commerce, stressed that President Abdel Fattah El-Sisi’s interest in participating in international economic forums created real support for the Egyptian economy and made the Egyptian market one of the most important global markets attracting direct foreign investments. It also restored Egypt’s regional and international standing. Pointing out that the success of the economic reform program adopted by Egypt during the past few years succeeded in putting Egypt on the path of true development.
Al-Araby added that the Federation of Chambers of Commerce has issued a detailed report on the Egyptian-Serbian economic relations that lays out all available cooperation opportunities to distribute it to the quality people of exporters, importers and investors to start taking the necessary steps to start new trade and investment partnerships with the Serbian side.
The report of the Advisory Committee of the President of the Federation of Chambers of Commerce, which was prepared by Think Tank Egypt for Consulting and Economic Research on Egyptian-Serbian trade relations and the opportunities for increasing trade exchange, joint investments, and opportunities for Egyptian products in the Serbian markets to develop exports, which shed light on the increasing needs of the Serbian markets for some products following the tension The circuit between Russia and Ukraine, which the President of the Federation had commissioned to prepare on the sidelines of President Abdel Fattah El-Sisi’s visit to Serbia to provide accurate information with the aim of increasing trade exchange and joint investments between the two countries, to include the following:
Trade balance between Egypt and Serbia:
The total trade exchange between the two countries amounted to about $80 million in 2021 compared to $104 million in 2020.
Egyptian exports to Serbia amounted to 42.39 million dollars in 2021, compared to 65.90 million dollars in 2020.
Serbia’s exports to Egypt amounted to 37.35 million dollars in 2021, compared to 38.10 million dollars in 2020.
Egypt is the third market for Serbian exports to Africa. While Serbia is the 32nd market for Egyptian exports to European countries.
The most important Egyptian exports to Serbia were:
1- Salt and natural materials exports amounted to $17.2 million in 2021 compared to $46.45 million in 2020.
2- Fruit exports, estimated at 6.5 million dollars in 2021, compared to 4.42 million dollars in 2020.
3- Plastic products exports amounted to $4 million in 2021, compared to $1.2 million in 2020.
4- Fertilizer exports began to enter the Serbian market last year for the first time and amounted to $3.6 million in 2021, compared to $0 in 2020.
5- Vegetable exports amounted to $1.14 million, compared to $1.27 million in 2020.
6- Textile exports amounted to $1.07 million in 2021, compared to $977,000 in 2020.
7- Exports of glass products amounted to $1.04 million in 2021, compared to $312 thousand in 2020.
While the most important Serbian exports to Egypt were:
1- Tobacco exports and its industries amounted to $17.73 million in 2021, compared to $23.23 million in 2020.
2- Car exports amounted to $2.61 million in 2021, compared to $3.14 million in 2020.
3- Exports of machinery and electrical appliances amounted to $2.26 million in 2021, compared to $3.59 million in 2020.
4- Machinery and equipment exports amounted to 954 thousand dollars in 2021, compared to 3.25 million dollars in 2020.
5- Rubber products exports amounted to 731 thousand dollars in 2021, compared to 1.15 million dollars in 2020.
The report pointed out that Serbia enjoys distinguished capabilities in the health, energy and railway sectors, which gives a serious opportunity to benefit from these capabilities and develop cooperation between the two friendly countries in these fields.
Egypt is the second most important destination for Serbian tourism and accounts for 10% of foreign tourism.
And about tourism relations
The report indicated that the number of Serbian tourists to Egypt reached 100,000 in 2021, representing about 10% of the total Serbian foreign tourism, and Egypt is the second most important tourist destination for Serbian tourism after Greece.
The report pointed out that due to the escalation of political tension on the Russian-Ukrainian arena, direct trade on many goods imported from Russia and Ukraine to Serbia declined, Including creating potential opportunities for Egyptian products such as natural gas, plastic products, fertilizers, electrical appliances, fruits, vegetables and paper products.