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
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.