Economic Relations
Thursday، 29 October 2015 12:00 AM
Belgium ranks 24th among countries with the largest Foreign Direct Investment (FDI) contributions to Egyptian economy.
The visit of H.R.H Prince Philippe at the head of commercial and businessmen delegation constituted a new era in Egyptian-Belgian relation's position as an emerging market in the that could become an investment hub for the region and the numerous business undertakings between the business communities in the two countries.
Trade flow during the period (2006-2009) Million €
Item/ Year | 2007 | 2008 | 2009 | |
EgyptianExports | 397 | 350 | 550 | 213.8 |
EgyptianImports | 486 | 564 | 783 | 732.5 |
TradeVolume | 883 | 914 | 1333 | 946.3 |
Trade Balance | -89 | -214 | -233 | -518.7 |
Top 10 Egyptian Exports to Belgium
Product | 2009 | % Of total in 2009 |
Turbojets and Other Gas Turbines | 147 | 20.1% |
Pharmaceutical Products | 107 | 14.6% |
Iron and steel and its Products | 80.6 | 11% |
Plastic | 72.9 | 10% |
Organic Chemical | 61.3 | 8.4% |
Electrical Machinery | 29.4 | 4% |
Optical | 17.6 | 2.4% |
Vehicles | 15.8 | 1.2% |
Dairy Products | 13.2 | 1.8% |
Preparation of Cereals | 11.3 | 1.5% |
Total Top Products | 556 | 76% |
Top 10 Egyptian Imports from Belgium
Product | 2009 | % Of total in 2009 |
Turbojets and Other Gas Turbines | 147 | 20.1% |
Pharmaceutical Products | 107 | 14.6% |
Iron and steel and its Products | 80.6 | 11% |
Plastic | 72.9 | 10% |
Organic Chemical | 61.3 | 8.4% |
Electrical Machinery | 29.4 | 4% |
Optical | 17.6 | 2.4% |
Vehicles | 15.8 | 1.2% |
Dairy Products | 13.2 | 1.8% |
Preparation of Cereals | 11.3 | 1.5% |
Total Top Products | 556 | 76% |
Investment
Total Investments in (29/12/2009) | L.E. 607 Million L.E. in 125 Inland Projectsand Projects in FreeZones. |
Main investmentsectors | Industrial (building materials – food industry-chemicals- engineering- mineral products- pharmaceuticals – (agriculture- finance- services- constructions- tourism. |
Main InvestingCompanies | El Massria for Cementproduction Accorhotels Best of for dairyproducts Shrieder for lightingequipments Ezz for flat SteelSolvay |
Ranking among the investingcountries | 8th among EU countries in inland investments and 5th in Free Zones. |
Contractual framework
Agreement | Date of entry intoforce |
Egyptian-European Association Agreement signed on 25/6/2001 | 6/2004 Trade provisions enteredinto force as of January 1 2004. |
Protocol to theAssociation Agreement to take account of the accession of the new EU memberstates (Romania Bulgaria) | Signed on 26/11/2007 |
Agreement on promotionand protection of investments | Signed on 28/2/1999 |
Agreement on Avoidanceof double taxation | Signed on 3/1/1991 |
Agreement on Economic,Industrial and Technical cooperation | Signed on 11/12/1979 |
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