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Egypt and Nigeria signed deals worth $30 million

Egypt and Nigeria signed deals worth $30 million

The first Nigeria-Egypt Trade Conference and Exhibition has finished in Cairo. At the closing ceremony, companies from both countries signed partnership agreements for the amount of $30 million.

El Sharkawi, Chairman, Egypt African Businessmen’s Association, noted in his statement issued on September 14 that six companies from these two countries had agreed on cooperation in construction, medical equipment, and engineering sectors, as well as in agriculture, mining, technologies, and real estate.

The conference in Cairo was visited by Ibrahim El-Yakub, Minister of State for Works and Housing in Nigeria, who learnt about residential construction projects implemented by private Egyptian companies in Cairo and declared Nigeria’s readiness to cooperate with Egypt in home-building. According to him, Nigeria needs to build at least 200,000 residences per year.

Nura Abba Rimi, Nigerian Ambassador to Egypt, welcomed the results of the conference and noted that agreements achieved by private companies would create more opportunities for business and trade development for the benefit of both countries’ citizens.

The Egyptian real estate market, especially in its capital, Cairo, remains attractive to international investors on both private and state level. The rapidly developing construction sector promises high returns and liquidity.

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