Indonesia-Egypt trade value reaches 1.1 million USD in 2020

Jakarta (Indonesia Window) – The value of trade between Indonesia and Egypt grew positively during the COVID-19 pandemic, reaching a total of 1,184,918.5 U.S. dollars in 2020.

That trade exchange figure is up by 3.2 percent compared to that in 2019 which was recorded at 1,148,163 U.S. dollars, according to a written statement from the Indonesian Embassy in Cairo received here on Wednesday (Apr. 7).

In fact, the trade between the two countries in January 2021 also showed an encouraging value of 159.49 million U.S. dollars, an increase of 61.31 percent compared to that in the same month of 2020 which amounted to 98.87 million U.S. dollars.

The Indonesian Embassy in Cairo stated that Indonesian Ambassador to Egypt Lutfi Rauf became a speaker at the 13th Egypt Economic Forum on March 29, 2021.

The forum under the theme ‘Egypt the Gateway to Exports to Middle East and Africa after Corona Crisis’ was aimed at getting input from government officials, business actors, and international community on how to increase Egyptian exports, to implement trade agreements between Egypt and countries in African and European regions, and to process trade agreement negotiations with other partner countries.

The speakers shared the same views that Egypt is a strategic country in regional and international trade because of its geographical location and economic potentials.

Geographically, Egypt is traversed by the Suez Canal, which is the main world’s trade shipping route, connecting Asia, Africa and Europe.

The presence of the Indonesian ambassador to deliver views on the economic cooperation between Indonesia and Egypt in that international forum showed the Indonesia’s important position in the economic field.

It also showed Indonesia’s contribution to multilateral cooperation, especially in overcoming the COVID-19 pandemic.

Reporting by Indonesia Window