Cyprus, Egypt target 20 percent annual increase in trade

The Cypriot minister of trade, industry and tourism, Nicos Rolandis, paid a visit to Egypt at the invitation of Egyptian Minister of Trade and Supply Ahmed El-Goweili in which the Cypriot minister said that Egyptian - Cypriot relations have a history thousands of years old.

He stated that the present political relations between the two countries are excellent, as Egypt greatly supports the Arab issues of Cyprus.

He also said that his current visit to Egypt is an economic visit to bolster the trade, industrial and tourism interests of the two countries, confirming that he agreed with El-Goweili to enhance commercial relations. The current trade exchange volume between Egypt and Cyprus amounts to $30 million, and they are discussing increasing it by 20% annually.

He also said he agreed with Egyptian officials to organize tourism trips to Egypt and Cyprus, especially as the two countries are located in one geographic region.