Egypt’s Trade Ministry prioritizes boosting industrial production, increasing exports

Daily News Egypt
2 Min Read

Ahmed Samir, the Egyptian Minister of Trade and Industry, emphasized the Ministry’s role, along with its sectors and affiliated entities, in advancing the Egyptian industry and expanding exports to diverse global markets. He noted that foreign trade is a cornerstone of the Egyptian economy, contributing to the provision of foreign currencies, bolstering economic growth, and satisfying local market demands.

Minister Samir reiterated the Ministry’s commitment to fulfilling the nation’s objectives of elevating Egyptian exports to various global markets, with an annual target of $100bn. This goal will be pursued by enhancing the quality of Egyptian products, increasing their competitive edge, and penetrating new markets, coupled with comprehensive support for exporters.

During his discourse, Samir outlined the executive measures of the National Strategy for Industry, which aims to position Egypt as a hub for sustainable manufacturing and a prominent player in international trade. The strategy includes efforts to augment the exports of Egyptian goods, boost industrial value-added, amplify the green economy’s share in the GDP, and create more employment opportunities for the youth.

These remarks were made as he inspected the NilePreneurs initiative, backed by the Central Bank of Egypt, which fosters entrepreneurship, supports small and medium enterprises, and promotes indigenous products. He also toured several research facilities and the Center for Supporting and Encouraging Innovation and Entrepreneurship.

Furthermore, Samir urged business leaders to harness the innovative potential of university students to benefit the industry. He highlighted Nile University’s reputation for producing specialized graduates equipped with the knowledge and skills necessary to contribute to the industrial sector and devise inventive solutions within the industrial realm.

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