Tenders, Tender notices, procurement news, project information, business opportunities, global tenders, international bids, request for proposal (RFPs) export import trade leads from Egypt.
Egypt derives a great deal of its foreign exchange from tourism. Consequently most of its labor force is devoted to the service sector. Agriculture is also a large part of the Egyptian economy. The Nile River provides Egypt with some of the most fertile land in the Middle East. It produces food for consumption and export as well as cotton for domestic and foreign textile production. Egypt's other great resource is the Suez Canal. Roughly 7.5% of global sea trade transits the canal providing Egypt revenues in excess of $3 billion annually. Egypt's industrial base dates back to the 1960s when the nation undertook import substitution industrialization policies. The inefficiencies of the state-run program have led the government to begin a privatization program and as a result Egypt enjoyed substantial GDP growth in the first decade of the 21st century. It has also taken advantage of Qualifying Industrial Zone to expand trade relations with the United States. Despite these developments Egypt remains an underdeveloped country with a per capita GDP of $5,000.