Egyptian Trade Minister Amr Nassar has revealed that Kuwait is Egypt’s third top trade partner, right after the UAE and Saudi Arabia, with bilateral trade hitting USD 1.74 bn in 2017, of which non-oil goods made up USD 363 mn, Invest-Gate reports.

“Nassar pointed out that Kuwait ranks fourth among the largest foreign investors in the Egyptian market, with 1,227 joint projects operating in the fields of tourism, industry, finance, properties, communications, IT, and agricultural investment,” according to a ministerial statement on November 7.

“Egypt is keen on taking the mutual economic relations with Kuwait to new levels of cooperation,” Nassar was quoted as saying during the Egyptian-Kuwaiti cooperation forum “Brothers Partners,” which took place in Kuwait with the aim of shedding light on investment opportunities in both nations as well as raising their trade exchange.

In October, Egypt approved a Kuwaiti funding for infrastructure projects in Sinai and the mainland at a value of KWD 25 mn (nearly USD 82 mn) from the Kuwait Fund for Arab Economic Development (KFAED).