Israel, Egypt to boost economic ties, step up bilateral trade to $700m

Israel and Egypt are moving to strengthen economic ties and hope to reach $700 million in annual bilateral trade in the next three years, the Economy and Industry Ministry said Sunday.

The two countries are targeting annual trade (excluding tourism and natural gas exports) at about $700 million by 2025, up from about $300 million in 2021, according to the ministry.

The new plan will expose more Israeli industries to the Egyptian market and make development and infrastructure projects accessible to Israeli tech companies, the ministry added.