Minister of Trade and Industry Amr Nassar has confirmed that French investments in Egypt are estimated at EUR 4.5 bn in 473 projects operating in various fields across the country, Invest-Gate reports.

The investments cover the fields of agricultural production, information technology, construction, renewable energy, transport, banking, insurance, aviation, tourism, and infrastructure, Nassar said in an official statement on October 13.

According to Nassar, the volume of trade exchange between Egypt and France reached USD 1.459 bn during the first eight months of 2018, of which USD 460 mn are in exports and USD 999 mn are in imports.

The news came at a meeting held on October 13 between the trade minister and the French Ambassador in Cairo Stéphane Romatet to review future economic relations between both countries as well as current French investments in Egypt.

On his part, Romatet stated that the positive economic reforms that Egypt has implemented over the past two years contributed to enabling the Egyptian market to reinforce its major role as one of the crucial markets in the Middle East and Africa, according to the statement.

In addition, the meeting touched on preparations for the French President Emmanuel Macron’s scheduled visit to Egypt at the beginning of 2019, during which the Egypt-France Business Council will be held.