Egypt to invest $1bn in Pakistan

ISLAMABAD: Egyptian companies will be investing $1 billion in Pakistan over the course of next year, revealed Egyptian Ambassador to Pakistan Abdul Fadel Yacoub after an Egyptian delegation visited Pakistan.

The investment inflow from the Egyptian private sector will be invested in different sectors, mainly energy, real estate, pharmaceutical, food and tourism industries.

The bilateral trade between both countries currently stands at $260 million.

To further boost trade, Secretary Commerce Ahmed Sukhera of Ministry of Commerce and Egyptian Commercial Service First Secretary Ahmed Anter signed a Memorandum of Understanding (MoU) earlier, that established Pakistan-Egypt Joint Working Group on Trade in Islamabad.

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