During a meeting with Moody’s delegation, Qabil added that Egypt had narrowed its trade deficit by $18 billion over the past 18 months (since the beginning of 2016).

Trade and Industry Minister stressed that the ministry is taking steady and balanced steps to carry out a strategy to enhance industrial development and foreign trade.

He added that Egypt has large trade connections thanks to its free trade agreements with several major economic blocks worldwide, which in return would help its exports enter various markets.

The ministry of trade is taking steady steps to achieve its strategy aimed at boosting domestic industries and foreign trade by 2020 in line with the Egyptian government’s 2030 scheme for sustainable development, Qabil announced.