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Industry minister meets export council heads
20 May 2022  -  Sector :  -  Entity :  -  Category : Industry News

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The meeting has discussed targets of the ministry’s plan to boost export rates.

Cairo- May 20, 2022

Minister of Trade and Industry Nevine Gamea has held an expanded meeting with heads of export councils to discuss targets of the ministry’s plan to boost export rates.

“The government is keen on keeping export growth strong, in a way that would give a boost to Egypt’s economy and enhance its competitiveness,” Gamea stressed during the meeting.

Egypt’s exports, she said, grew 20% year on year in the first quarter of 2022, attesting to a resilient manufacturing sector in the face of unrelenting global challenges.

The minister highlighted the key role of manufacturing in this respect, being the main economic growth driver.

She also pointed out that the national initiative to pay out export subsidy arrears has significantly impacted the industry and export sectors- with EGP 25.3 billion disbursed so far since its launch in December 2020.

Moreover, the export council chiefs submitted a number of suggestions to further increase exports in the coming period.

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