Minister of Industry Tarek Kabil- File photo
CAIRO – 16 July 2017: New five commercial service offices have been opened in Africa to boost Egyptian exports to the continent, Minister of Industry Tarek Kabil said Sunday.
Kabil made the statement during a meeting with newly appointed 44 ambassadors to
explain to them the strategy of the industrial sector.
During the meeting, Kabil reviewed the Ministry of Industry’s 2020 strategy to boost the contribution of the industrial sector to 20 percent of the Gross Domestic Product (GDP) from 18 percent.
The ministry’s strategy shoots for an 8 percent growth rate in the industrial sector in the upcoming years.
Egypt’s trade deficit fell from $29.8 billion to $27 billion in the first nine months of the current fiscal year, on $2.6 billion export increase and $212.7 million decline in imports.
Export value surged 19.3 percent in that period, recording $16 billion on rising of non-oil exports by 2.1 billion and oil exports by $445.5 million.