Explore Export – Egypt
Egypt’s economy is highly diversified with significant resources including oil, natural gas, iron ore, and phosphates. The country is strategically located in the centre of the MENA region, and is heavily import-dependent.
Egypt is the hub for the world’s maritime traffic through the Suez Canal, and is a signatory to many regional and international free trade agreements. The UK is the largest investor in Egypt with major companies such as BP, BG, Shell, Vodafone, HBSC, Barclays, Unilever and GSK leading in their sectors.
Ahead of UKTI’s ExportWeek flagship ExploreExport event at Newmarket Racecourse on November 9, Business Weekly caught up with trade expert Jason Ivory to find out why Egypt is such a prime market.
What are the top three business opportunities in your market over the next 18 months?
1. Suez Canal Development
2. Renewable Energy
3. Cairo Airport City
What could we Brits do better to succeed in your market?
Visit the Market. Maintain your relationship with UKTI Egypt team. Assess the interest, perform due diligence and look closely at market developments in relation to your particular sector. Undertake as much market research and planning as possible in the UK.
What are the three most important things that UK businesses should know when dealing with your market?
1. British goods and services are held in high regard in Egypt and the UK enjoys a good reputation in the market
2. The Egyptian market requires careful study and a sustained sales effort
3. Having a local partner can be vital to successful penetration of this market.
Please tell us an interesting fact that others may not know, about the country you are in...
Egypt has a current population of around 93 million, with approximately 50 per cent of those under the age of 25!