By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    March 29, 2023
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: ITFC, two Egyptian economic entities launch training project to support Export
Share
Notification
Latest News
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
Volatile trading on EGX amid anticipation of interest rate movement
Volatile trading on EGX amid anticipation of interest rate movement
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > ITFC, two Egyptian economic entities launch training project to support Export
Business

ITFC, two Egyptian economic entities launch training project to support Export

Daily News Egypt
Last updated: 2023/01/23 at 3:57 PM
By Daily News Egypt 7 Min Read
Share
ITFC, two Egyptian economic entities launch training project to support Export
SHARE

The International Islamic Trade Finance Corporation (ITFC), the Micro, Small and Medium Enterprises Development Agency (MSMEDA), and the Foreign Trade Training Center of the Egyptian Ministry of Trade and Industry launched on Sunday the “Training a Step for Export” project, funded by the ITFC with $350,000.

This comes within the second phase of the Aid for Trade initiative for Arab countries (AFTIAS), to support Egyptian exporters and SMEs.

The project launch was attended by Hani Salem Sonbol, CEO of the ITFC and Chairperson of AFTIAS; Basil Rahmi, CEO of MSMEDA; Mary Kamel, Executive Director of the Foreign Trade Training Center; and Amr Hazaa; Advisor to the Minister of Trade and Industry and Head of the Development Projects Unit.

According to a statement by the ITFC, the project aims primarily at developing the capabilities of Egyptian youth and owners of current and new medium, small and micro enterprises wishing to start exporting, and who already have exportable products or who already export and wish to increase their export capabilities.

An integrated training program is being implemented with the aim of preparing a new generation of qualified exporters and increasing their capabilities, knowledge and skills in order to enable them to produce value-added products that match market needs, design and implement new marketing strategies, as well as effectively locate their products in local and regional markets and help them penetrate new markets in various regions sectors, giving priority to the agricultural sector in the areas of production and manufacturing because of its ability to create direct and indirect job opportunities, and work to increase Egyptian exports by supporting current and new export business for Egyptian exporters and work to achieve the competitiveness of Egyptian exports.

The Foreign Trade Training Center of the Ministry of Trade and Industry is working on implementing the training project, A Step for Export, as the center offers an integrated training program that deals with issues related to the entire export cycle, starting with the extent of readiness of the company or establishment for export, passing through how to study international markets, identify available export opportunities, choose the most appropriate one, and prepare a strategic plan for export. It includes all the factors and determinants of penetrating international markets and developing the product to comply with the specifications and quality required in these markets and the end of export logistics, including means of packaging, shipping, transportation, methods of financing and guaranteeing exports, and others.

The Micro, Small and Medium Enterprises Development Agency provides financing in the event that graduates of the program need to establish companies or export offices or expand their commercial businesses, in order to start or expand export activities.

Hany Sonbol said: “The Foundation is proud of the partnership with the government of Egypt and the Small, Medium and Micro Enterprises Development Authority in launching the project, which is an initiative to strengthen the Egyptian economy through the private sector, especially medium, small and micro enterprises, and integrate them into local and global supply chains and increase exports, especially In the agricultural sector because of its ability to create direct and indirect job opportunities and to provide the raw materials necessary for agricultural production and processing.”

He pointed out that the project keeps pace with the objectives of the International Islamic Trade Finance Corporation, which aims to develop trade among the OIC member states, contribute to improving their access to trade finance, and provide the necessary trade-related capacity-building tools that can help them compete successfully in the global market.

He explained that the economic empowerment of Egyptian youth, the development of their skills and the enhancement of their technical knowledge in export occupies an advanced position in the programs of the International Islamic Trade Finance Corporation in Egypt, in order to help them expand their business outside the local markets and enter new markets.

For his part, Basil Rahmi, CEO of the Small, Medium and Micro Enterprises Development Agency, affirmed the agency’s interest in cooperating with the International Islamic Trade Finance Corporation and the Foreign Trade Training Center to implement the “Training is a step for export” project, which aims to strengthen and build export capabilities for owners of medium, small and micro enterprises, rehabilitation and training of young people to reach global markets by developing their products and giving them competitive capabilities that raise their export opportunities abroad.

Mary Kamel, Executive Director of the Foreign Trade Center, confirmed that the training project is a step for export, which aims to create a new generation of qualified exporters and contribute to developing the competitiveness of Egyptian exports in global markets, in order to ensure economic growth and create opportunities for entrepreneurs to start exporting.

She indicated that the project was set up in line with the objectives of the International Islamic Trade Finance Corporation. The project aims to train 600 trainees from all governorates of the Republic over a period of two years, with a free grant, with the aim of preparing a new generation of qualified exporters, by providing an integrated training program that provides all the knowledge, concepts and skills necessary for any business. pragmatic source.

For his part, Amr Hazaa, Advisor to the Minister of Trade and Industry, confirmed that this project comes in line with the goals of the International Islamic Trade Finance Corporation and within the framework of the Ministry of Trade and Industry’s plan to reach Egyptian exports to $100bn, referring to the training project as a step for export that aims to achieve higher rates of export.

You Might Also Like

Egypt’s IDA gears up to provide its services for investors online 

Egypt, Germany discuss promotion of cooperation in communications, digital transformation

Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador

Volatile trading on EGX amid anticipation of interest rate movement

Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt

TAGGED: ITFC
Share this Article
Facebook Twitter Email Print
Previous Article valU partners with Sympl to provide short-term BNPL plans for customers valU partners with Sympl to provide short-term BNPL plans for customers
Next Article Facebook leads social media platforms in Egypt, followed by Instagram and TikTok Facebook leads social media platforms in Egypt, followed by Instagram and TikTok
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?