Egypt discusses increasing exports to $100B annually

CAIRO – 24 August 2020: Egypt pays great attention to the export file and the importance of achieving an unprecedented boom in export rates for all sectors, especially the sectors in which Egypt has a competitive advantage, which contributes to achieving the government's plan to reach exports of $100 billion annually, Minister of Trade and Industry Nevine Gamea said Monday.

Gamea explained that the ministry is currently studying all proposals related to facilitating export procedures and dealing with all challenges that stand in the way of the flow and flow of Egyptian exports to foreign markets, with a focus on the African market, which represents one of the most important objectives of the ministry’s plan to double exports.

This came during the expanded meeting that the Minister held with a number of heads and representatives of export councils regarding the promotion of Egyptian exports to various global markets with a focus on the African market.

The minister referred to her visit last week to Sudan accompanied by the Prime Minister, as Sudan is one of the most important Arab and African countries that have distinguished relations with Egypt in all fields. The Sudanese Minister of Industry was invited to visit Cairo during the coming period in order to strengthen industrial cooperation between The two countries and then increasing the rates of trade exchange between the two countries,

She noted that it was agreed with the Sudanese side to develop an action plan to overcome the obstacles that obstruct the flow of trade movement between the two countries, by facilitating logistical transport and increasing joint investments, especially in areas of common interest, and strengthening cooperation in the field of technical and professional training to meet the needs of the Sudanese industry of qualified workers .

Gamea referred to the importance of restructuring the Egyptian-Sudanese Business Council to play a pivotal role in developing economic and investment relations between the two countries during the next stage, noting that the Egyptian and Sudanese sides are currently being formed in coordination with the Sudanese Minister of Industry.

For his part, Chairman of the Export Council for Chemical Industries, Khaled Abu Al-Makarem, said that the sector’s exports in 2019 amounted to $ 5.5 billion, of which $ 1.2 billion went to the markets of the African continent, accounting for 22 percent of the sector’s total exports.

He pointed out that the chemical industries sector aims to increase Egyptian exports to African markets during the next stage by activating the system of missions and commercial weeks and establishing permanent exhibitions for Egyptian products in these markets.

Abul-Makarem added that 3 African countries account for two-thirds of Egyptian exports to African markets, namely Kenya, Ethiopia and Nigeria, pointing out that the sector aims to implement a comprehensive strategy to increase its exports to the markets of 18 African countries during the next stage.