Egypt launches trade entity to bolster exports in Arab markets

Egypt plans to launch the Arab Alliance for Industrial Investment next week, aiming to boost exports and economic growth. This new entity, comprising 41 private companies, will focus on Arab markets with offices in Libya, Iraq, and the UAE. The initiative will provide various investor services, including promotional activities and liaising with government bodies. This move follows a 60% drop in Suez Canal revenues, totaling a $7 billion loss in 2024. Egypt targets $145 billion in foreign exchange inflows by 2030, significantly supported by Arab investments, which saw $39.5 billion from the UAE last fiscal year.