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CAIRO - 23 February 2022: Trade Exchange between Egypt and the Arab countries increased by 18 percent during 2021 on an annual basis, according to the Minister of Trade and Industry, Nevine Gamea.
Egypt’s exports to Arab countries during 2021 amounted to about $9.5 million, which represents about 30 percent of the total Egyptian exports, according to the statement of the General Federation of Chambers of Commerce, Tuesday.
Gamea added that Egyptian non-oil exports achieved unprecedented positive indicators in 2021, reaching $32.13 billion, compared to $25.43 billion in 2020, with an increase of $6.7 billion or 27 percent.
The minister pointed out that the unprecedented increase in exports was due to the great efforts of the Egyptian government in general and the Ministry of Trade and Industry in particular, especially the new program to support exports, reduce burdens and pay overdue export dues to the Export Development Fund.
She stated that the state implemented measures and efforts that, in turn, contributed to reaching these tangible export rates, including restructuring the Supreme Council for Exports, restructuring export councils, in addition to working to achieve maximum benefit from commercial offices abroad, as well as from free trade agreements and preferential agreements with a large number of countries and global economic blocs
This came in the context of the minister’s speech delivered during the opening of the activities of the 132nd session of the Council of the Union of Arab Chambers, in the presence of Abdullah Al-Mazrouei, President of the Union of Arab Chambers, Khaled Hanafy, Secretary-General of the Union of Arab Chambers, and Mohamed Al-Masry, First Deputy Engineer Ibrahim Al-Arabi, President of the General Federation of Egyptian Chambers of Commerce In addition to the heads and members of the Arab Chambers of Commerce, Hatem Al-Ashry, Advisor to the Minister for Institutional Communication, and Alaa Ezz, Secretary General of the Federation of Egyptian Chambers of Commerce.
“Egypt has taken great strides towards deepening local industrialization, increasing export rates, and enhancing the added value of Egyptian exports in global markets, within the framework of a stimulating investment environment and advanced comprehensive quality standards,” Games added.
She pointed out that the strong partnership that exists with the private sector is within the framework of Egypt's development vision, which focuses on maximizing its role in various development fields.
The Minister stressed the importance of enhancing the role of the Arab private sector as a strategic and main partner for economic development plans in Arab countries.
She pointed to its pivotal role in linking business strategies and sustainable Arab development, developing a circular and participatory economy, strengthening regional Arab supply chains through joint projects, in addition to developing exchanges in intermediate goods to build and strengthen Arab value chains based on the technological revolution and digital transformation.
Abdullah Al-Mazrouei, head of the Federation of Arab Chambers, said that the importance of promoting trade exchange and economic relations between the countries of the Arab world, especially in light of the great challenges witnessed by the global economy, pointing to the great role of the Arab Republic of Egypt in unifying efforts and reunification to achieve a qualitative leap in Arab economic cooperation.
Khaled Hanafi, Secretary-General of the Union of Arab Chambers, said that the importance of benefiting from Egypt's presidency of the current session of the Council of Economic and Social Unity of the League of Arab States to develop a comprehensive vision that contributes to the flow of trade exchange and joint investments between Arab countries, stressing in this context the importance of the pivotal role of the private sector in Establishing partnerships that achieve the interests of all Arab countries.