The international US online retail company Amazon, which owns Souq.com that operates in Egypt, is planning to expand its services in the promising Egyptian market in the field of e-commerce.

According to a statement issued by the Egyptian government Aug. 11, Mohamed Abdul Wahab, executive director of the state’s General Authority for Investment and Free Zones, met with Souq.com’s General Manager Omar el-Sahy and Dalia Seif, Amazon’s head of public policy and regional operations manager, to discuss the current and future plans of Amazon in the Egyptian market.

Mohammad Azzam, board member of the International Association for Management of Technology, praised Amazon’s presence in the Egyptian market. He told Al-Monitor that Amazon is one of the biggest companies in the world in the e-commerce sector and holds a market value of about $1.6 trillion. He considered the company’s expansion plans in Egypt a good step that underlines its interest in the promising Egyptian market in this field.

Azzam noted the importance of Egypt’s e-commerce sector, since “Egypt’s competitive trait lies in its geographic location as it constitutes a starting point for neighboring markets, especially given its logistics presence on the Suez Canal axis. Besides, Egypt is a key player in the Belt and Road Initiative. As a result, the Egyptian market reaches up to 2 billion consumers [worldwide] rather than just 100 million [roughly Egypt's population].”