Saudi Arabia is top exporter to Egypt

Saudi Arabia topped the list of Arab exporters to Egypt during the first quarter of this year, according to commerce department sources at the Egyptian Consulate in Jeddah.

About half of Arab exports to Egypt, which totaled 425 million Egyptian pounds, came from Saudi Arabia, which exported products worth 217.7 million pounds to the North African country.

The sources said the remaining imports to the country came from Libya, the United Arab Emirates, Lebanon, Sudan, Tunisia and Syria.

"Trade exchange between Saudi Arabia and Egypt is growing continuously. During the first quarter of this year, it rose by five percent," the sources said.

Major Saudi exports to Egypt were petrochemicals, industrial products and building materials.

"Re-export of foodstuffs, spare parts and cars represented a considerable part of the bilateral trade," they said.

Meanwhile, as many as 30 Saudi companies are participating in the Egyptian Gulf shopping festival in Cairo from August 6-15. More than 140 Egyptian industries are taking part in the event which is being held at the International Exhibition Center in Nasr city.

The festival is expected to gross more than 100 million pounds. It provides a good opportunity to Gulf businessmen to make deals with their counterparts in Egypt.