Egypt's Sisi eyes $1b in trade on Vietnam visit
Vietnam and Egypt agreed Wednesday to nearly triple trade to $1 billion including with ship-building and IT contracts, as Egypt seeks to kickstart its sputtering economy and forge ties with fast-growing Asian nations.
Egyptian President Abdel Fattah al-Sisi is in Hanoi for a two-day visit -- the first ever by an Egyptian leader -- aimed at drumming up business ties with the country.
"We discussed means to reinforce bilateral ties in many areas, in particular in economics, especially in light of Vietnam's achievements in the fields of industry and commerce," Sisi told reporters.
Egypt's economy tanked after a 2011 revolution that toppled longtime president Hosni Mubarak, and though growth has steadily recovered, reaching 4.3 percent last year from 1.8 percent in 2011, it is still hampered by high inflation.
Last year the International Monetary Fund approved a $12 billion loan to prop up the ailing economy.
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