The event aims to revitalize and
develop this key sector and increase the competitiveness of its products.
Cairo- Feb 19, 2022
Minister of Trade and Industry
Nevine Gamea, and Minister of Supply and Internal Trade Ali al-Moselhy have
inaugurated the first exhibition for gold and jewelry “NEBU 2022”, held in Cairo
on Feb 19-21, under the patronage of Egypt’s premier.
Organized by the Federation of
Egyptian Chambers of Commerce (FEDCOC), the expo witnesses the participation of
some 30 major companies in the field of gold manufacturing and trading, as well
as a host of local and international jewelry designers.
The inauguration ceremony was
attended by the ministers of planning, tourism, the Cairo governor, VP and
secretary-general of the FEDCOC, and head of the General Division for Gold and
Jewelry at the FEDCOC.
"The event aims to revitalize
and develop this key sector and increase the competitiveness of its products,”
Gamea said, noting that the exhibition will contribute to localizing the gold
industry in Egypt, boosting the sector’s exports, attracting more investments
and transferring modern technology.
government, she pointed out, has adopted various major legislations to revive
the industry and place Egypt once again among the leading countries in the
field; with the country’s pre- pandemic gold exports exceeding $2.9 billion to
pointed out that Egypt produces more than 15.8 million tons of gold from Sukari
Gold Mine, which is expected to increase with the completion of the Golden
Triangle project in the Eastern Desert.
It is also establishing
the “City of Gold” over an area of 150 acres in the New Administrative
Capital, which includes 400 technical workshops for gold production, another 150
educational ones and a technical school to integrate with Egypt Gold School in
Obour, she further added.
official data, gold was one of the country’s key exports during 2021, amounting
to $1.108 billion. The global jewelry market stands at an annual $228 billion and
is expected to increase to $307 billion by 2026.