The Asian emerging country partners rank third as Egypt's most important trading partners after the EU and the United States. Over the past five years, the non-Arab Asian countries accounted for 16.6 percent of Egypt's total merchandise trade by volume with the rest of the world. China led the way with 5.5 percent, followed by India with 3.4 percent and South Korea 2.0 percent. Data from World Trade Organization and African Economic Outlook showed that Arab countries meanwhile accounted for some 11.3 percent of Egypt's merchandise trade in the same period, led by the UAE with 3.0 percent and Saudi Arabia on 2.6 percent. Arab countries are particularly important as investment partners, as they contribute to FDI inflows into Egypt and are an important destination for young Egyptian migrants. Other important emerging country partners for Egypt include Russia and Turkey, each with a 2.0 percent trade share over the past five years. Egypt's trade with non-Arab African countries has been modest thus far, taking up a share of 1.2 percent. Egypt's total merchandise trade with emerging partners has been increasing steadily, with the exception of a small drop during the worst of the financial crisis in 2008/09. China is the country's fastest growing trade partner while the UAE, Saudi Arabia and Turkey have also posted consistent growth. Moreover, economic relations with Turkey and Brazil have also started to pick up and are expected to flourish in the near future in light of the trade agreements that Egypt signed with each of them. Egypt's partnerships with emerging countries are generally in the form of trade and investment, and to a lesser extent aid and grants.
