CAIRO - 2 February 2022: Prime Minister Moustafa Madbouli said Egyptian exports hit a record of $ 45.2 billion in 2021 which is the highest in Egypt's history.
He said the government is encouraging all industrial and production sectors to realize the aspired goals.
During a press conference, he said the cabinet meeting reviewed the total Egyptian exports in 2021.
He noted that the non-petroleum exports stood at $ 32.123 billion, but rose now to $ 32,340 billion.
The petroleum exports registered $ 12.9 billion.
This came in line with directives of President Abdel Fattah El Sisi to raise Egyptian exports to $ 100 billion in the near future.
Prime Minister Moustafa Madbouli said that President Abdel Fattah El Sisi has focused on encouraging and localizing industry and shrinking imports.
He said that several initiatives were launched during the coronavirus pandemic, but Egypt adopted a balanced mechanism in encouraging economic sectors and the exportation sector.
Supporting exporters was one of the most important initiatives launched by the Egyptian government, he said.
The initiative allows instant and cash repayment of the entirety of export companies’ arrears from the Export Development Fund (EDF).
Egypt’s exporters were handed over LE 31 billion under the initiative, he said.
Prime Minister Moustafa Madbouli attributed the growth of Egyptian exports to rising international demand on commodities as economies started to recover from the coronavirus pandemic repercussions in addition to opening new markets for Egyptian products and the state's efforts to raise the efficiency of Egyptian exports to international markets via several initiatives.
He also referred to efforts exerted by the government to give momentum to the exportation sector which is one of the major sources of hard currency.
The premier also cited the major step taken with regard to the application of the Advanced Cargo Information (ACI) system at ports.
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