Sunday, November 28

The Minister of Commerce discusses with the export councils mechanisms to increase exports to $100 billion

11:59 AM

Sunday 14 November 2021

Minister of Trade and Industry Nevin Gamea confirmed that the ministry is currently studying ways to boost Egyptian exports to foreign markets to reach $100 billion in exports annually, according to a statement from the Ministry of Trade and Industry on Sunday.

The minister said that this comes in light of the great interest and support given by the political leadership to the export file and its keenness to achieve an unprecedented boom in the export rates of all sectors, especially the sectors in which Egypt has a competitive advantage.

This came during the expanded meeting held by the Minister with the heads and representatives of the export councils to discuss ways to increase Egyptian exports to various global markets, in the presence of Ibrahim Al-Sigini, Assistant Minister of Trade and Industry for Economic Affairs, and Dr. Amani Al-Wasal, CEO of the Export Development Fund.

The minister stated that most of the Egyptian export sectors succeeded during the first months of this year in achieving a significant increase in export rates despite the global challenges facing the movement of exports and trade exchange in the world.

She added that the ministry spares no effort in continuous coordination with all concerned authorities in the government and the exporters community with the aim of developing an integrated vision to increase export rates, facilitate its procedures and face all challenges that may prevent the flow of Egyptian exports to foreign markets, with a focus on markets where Egyptian products enjoy great popularity and demand. from the end consumer.

The minister indicated that the new export support program has greatly contributed to enhancing the ability of exporters to stabilize export rates, especially since the program focuses on raising employment rates in various industries to absorb additional capacities, and achieve a qualitative leap in local and foreign investments in various industries, in addition to deepening the industry. and raise quality levels.

She explained that the many initiatives launched by the government since the beginning of last year to respond to export burdens, the latest of which was the immediate payment initiative, made a significant contribution to facilitating exporters in disbursing overdue receivables and giving an impetus to exporting companies to preserve their foreign markets.

The minister said that there are a number of challenges that the global economy is witnessing and thus affect the Egyptian economy, including high inflation rates and freight prices, as well as high prices of raw materials.

She added that the ministry is striving in coordination with all government agencies to mitigate the effects of these challenges on the production and export sectors, in a way that contributes to maintaining production and export rates.

The heads and representatives of the export councils commended the efforts made by the ministry to support and strengthen the export councils, and presented a set of proposals aimed at increasing Egyptian exports abroad, which included reconsidering the method of participation in foreign exhibitions, intensifying efforts to provide local raw materials, and providing the necessary funding to import production requirements.

These proposals also included providing incentives to attract international companies operating in Asian markets that wish to transfer their factories to other markets, providing land transportation means to transport shipments to neighboring countries, expediting the payment of companies’ dues to the Export Burden Program, establishing permanent Egyptian logistic centers in African cities, and facilitating Logistics transport system between Egypt and the countries of the continent.

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