As part of its recent membership of the BRICS group, the Arab Women Investors Union, led by Hoda Yassa, has developed a list of trade exchanges in local currencies. The objective? Increase Egyptian exports to this major economic bloc.
This list includes key sectors such as furniture, textiles, ready-to-wear clothing, disinfectants (especially those for hospitals), agricultural materials, medicines and cosmetics.
By choosing to trade in local currencies within BRICS member countries, the Union aims to ease pressure on the dollar and boost Egyptian exports. According to Hoda Yassa, the trade volume of the five BRICS countries currently represents around 30% of the global economy.
She estimates that this figure could reach up to 50% with the effective membership of Egypt, the United Arab Emirates, Saudi Arabia, Ethiopia, Iran and Argentina within the block.
This initiative demonstrates the desire of the Arab Women Investors Union and BRICS member countries to strengthen economic partnerships and explore new business opportunities. A promising strategy that could pave the way for closer cooperation between these nations and stimulate the growth of international trade.