Minister of Industry and Trade Tarek Kabil announced that the ministry will complete the establishment of a new strategy that aims at increasing exports to Africa within the next three years.
He added that the ministry cooperated with five export councils, namely the chemical and fertilisers, building industries, food, engineering, and medical councils, to create the strategy. About 80% of all Egyptian exports to Africa are from those councils, according to a statement issued by Kabil on Sunday.
The minister said that the strategy includes a business plan with a timetable, targeted countries, and implementation mechanisms that open new markets for Egyptian exports to Africa.
Kabil explained that the strategy focuses on the African market, which receives Egyptian exports worth of $3.7bn.
The strategy depends on the analytical study for African market, increasing the number of markets in Africa, developing new exporting programmes, cooperating with commercial representation offices, and cooperating with the five major exporting councils.
Moreover, the minister said in the statement that he is leading the first marketing delegation that includes 70 companies from the five councils, which will establish the first logistics centre on 50,000 sqm in Kenya, which will be a centre for storing Egyptian products for the local and nearby markets.
The centre is the first of 12 targeted centres in Africa, the minister noted.
Chairperson of Chemical and Fertilizers Export Council Khaled Abou El-Makarem said that the strategy will raise Egypt’s exports to Africa by 60% within the next three years.