The president of the Arab Girls Traders Union Hoda Yassa mentioned that the union has ready a commerce change record in native currencies that goals to extend Egyptian exports to the BRICS group, following Egypt’s current accession to the bloc.
Yassa defined that this record contains furnishings, textiles, ready-made clothes, and disinfectants – particularly these designated for hospitals – agricultural supplies, medicines, and cosmetics.
“With these sectors, we intention to extend Egyptian exports based mostly on this benefit of dealing in native currencies as an alternative of the greenback with member states, which is able to contribute to assuaging the stress on the greenback,” she mentioned.
The commerce quantity of the 5 BRICS nations (Brazil, Russia, China, India, and South Africa) represents about 30 % of the quantity of the worldwide economic system, Yassa added.
She mentioned that commerce quantity will attain as much as 50 % if the accession of Egypt, UAE, Saudi Arabia, Ethiopia, Iran and Argentina into the bloc takes impact.
