Egypt’s Minister of Public Enterprises Sector, Hisham Tawfik said that stated that El-Nasr Export & Import Company, in its new form, “Gosoor”, aims to distribute Egyptian products in various markets across the world.
He explained that this will be done under a business model based on two main elements: mediation and marketing, in addition to logistics services, and any other services producers need to export their products or import their inputs.
The minister explained that Gosoor has launched an electronic catalogue to keep pace with the technological progress in the methods used in global trade. The catalogue aims to help Egyptian producers display their products on a single platform for Egyptian exports.
It will enable Egyptian companies, especially small ones, to register their exportable products for free, allowing workers in the company’s external branches to find the appropriate commercial partner for the needs of each factory. Additionally, an ERP resource planning and management system is being installed to link all sectors together, as well as connect external branches with the main branch.
This came during Tawfik’s meeting with the Board of Directors of the Egyptian Junior Business Association (EJB) via video conference, to discuss ways of joint cooperation.
The Egyptian Minister of Public Enterprise Sector revealed that the Gosoor catalogue will promote 30,000 products. He pointed out that the map of the foreign branches of the three foreign trade companies affiliated with the Ministry was reviewed. It is being merged into Gosoor Company to cover all global commercial centres by reaching more than 40 countries, relying on 14 branches.
On the nature of the work of the foreign branches, he explained that each branch is managed by a local manager who is familiar with the surrounding markets. He will be trained to use the electronic catalogue to promote Egyptian products in these markets and manage a network of agents in the surrounding countries to reach the largest number of markets at the lowest fixed cost.
As for providing a package of logistics services to exporters and importers, the minister confirmed that the beginning will be in cooperation with major international companies working in this field. These services will include land, sea or air freight, as well as customs clearance, assembly, and examination. Coordination will also take place with an Egyptian bank to provide the necessary financing for the working capital of manufacturers to whom Gosoor Company provides promotion services. This will happen once a purchase order is confirmed, as well as collection services through the network of correspondent banks in foreign countries. Coordination is also underway with Misr Insurance Company to provide insurance services for shipments, from the factory to the importers’ warehouses.
For his part, Gamal Abou Ali, chairperson of EJB, revealed that the association is working to enhance joint cooperation with all economic ministries. This aims to support the national economy and achieve an integrated partnership between the business community and government officials in various ministries and authorities. The meeting touched on the importance of encouraging the private sector to develop plans and participate in the development of business sector companies. The meeting also discussed the mechanisms of using some lands in animal breeding projects, real estate development and warehouse management.
Bassam El-Shanwany, Secretary-General of EJB, said that launching the business sector a platform to collect data and products of Egyptian companies to be displayed in the Gosoor catalogue is essential, as a package of logistical services is provided to make it easier for small exporters to have their products access foreign markets.