Algerian – Egyptian trade relationship.
The relatively modest trade exchanges to date between the two North African countries have nevertheless increased by some 21% equivalent to $51.4 million, from $425.6 million during the first five months of 2014 up to US$477 million during the same period in 2015, said Egypt’s Trade Minister Mohamed S. Fathy.
The Minister in a statement to the Egyptian Press Agency and EGYPT INDEPENDENT of 18 July 2015, said that Algeria’s exports to Egypt grew by more than 22% from January to May 2015, amounting to $263.2 million against $214.6 million during the same period a year earlier.
The Minister elaborated on the fact that Algeria’s sales to Egypt of Butane gas, propane gas and LNG are expected to increase further more during the current year with the delivery of six cargo-ships of Algerian LNG (liquefied natural gas), as per the agreement signed last year between the two countries’ oil companies, adding that the third cargo of Algerian was delivered in July.
Mohamed Fathy informed also that Egypt’s exports mainly of copper cables worth US$ 36.3 million to Algeria showed a record level moving from US$ 211 million during the first five months of 2014 up to US$ 213.8 dollars during the same period in 2015.
It is to be noted however, that this trade is at 100% between both countries’ state-backed, promoted, financed and controlled organisations due perhaps to similarities in their political system. Also and despite the fact that the two countries are the most populated countries of the MENA region, there is hardly no private sector trade exchange between the 2 countries.