Ministry of Trade and Industry targets increasing Egyptian exports to more than $30bn by end of 2019, said Minister of Trade and Industry Amr Nassar in the conference ‘Future of Investment in Egypt..Vision of Business Community,’ held on Monday by the Egyptian Business Association (EBA), Alexandria Businesses Association (ABA), and Egyptian Junior Business Association (EJB).
Egyptian exports hit $29.2bn by end of last year, and exceeded $15bn in the first half of this year, according to governmental data announced mid-September 2019.
The minister asserted the importance of the private sector in supporting the economy and creating jobs, noting that his ministry is in close coordination with the private sector and parliament.
“We succeeded in paying special attention to exports subsidy in coordination with Prime Minister Mostafa Madbouli,” the minister said, adding that his ministry targets maximizing the value added to commodities produced locally.
Nassar also mentioned that his ministry coordinates with the cabinet and various governorates to announce the map of industrial lands shortly.
“We also are discussing with the Ministries of Finance and Transport about simplifying procedures fortrade across borders,” Nassar added, noting that the activation of the one stop shop will support the position of Egypt’s exports.