Minister Blenipotentiary Honey Bassoni confirmed that the Egyptian-British joint venture will pave the way for more Egyptian food exports than ever before. 50% per annum.
This came during a seminar organized by the Export Council for Food Industries today in collaboration with the Trade Representative and the General Commission for the Control of Exports and Imports, entitled “Improving Food Sector Exports to the United Kingdom”.
Bassouni explained that the agreement reflects strong impetus for the development of bilateral trade and investment exchange between the two countries, which is mainly based on the concessions made by Egypt from the EU agreement with the EU, indicating that the agreement complements trade between the two countries in the field of food production and liberalization of most of the world’s products. With the exception of some agricultural products subject to quantity allocation.
Bassoni stressed that the grocery sector in the United Kingdom is one of the fastest growing sectors in the world as supermarket chains compete for customers and that the sector is recording strong growth in the retail trade and the total value of this sector is expected. By 2023 it will grow 14.8% to reach $ 237 billion. This equates to $ 213 billion, and online food purchases are expected to increase by 52% by 2023.
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