Representatives from Egypt’s various export councils have highlighted the need for permanent exhibitions for Egyptian products in African markets to be established to increase exports to the continent.
During their meeting with Minister of Trade and Industry Nevine Gamea, exporters stressed the importance of establishing permanent Egyptian logistics centres in African capitals and cities. The move would take into consideration the preference in these markets for the current goods system.
This would occur in addition to enhancing industrial cooperation between African countries, and facilitating a logistics system between Egypt and the rest of the continent. The steps to ease trade and exports across Africa would also cover a revamp of banking systems, considering the problems Egyptian exports face in moving to African markets.
The respective presidents from the export councils also presented a number of proposals and demands that would increase Egyptian exports in general. These include a review of energy prices for the industrial sector, and the speedy disbursement of companies’ dues as part of the export subsidy programme.
Gamea confirmed that promoting Egyptian exports to foreign markets is currently a top priority in her ministry’s work plan, especially as they represent a major source of foreign exchange for Egypt.
The minister noted that the African market is one of the most important target markets for Egyptian exports.
She said that her ministry is keen to communicate and coordinate with all business community organisations in the country, especially export councils. This would lead to the development of a comprehensive vision for increasing export rates, especially in light of negative repercussions that all global markets have witnessed due to the novel coronavirus (COVID-19) pandemic.
The Ministry of Trade and Industry further noted that the Egyptian-Sudanese Business Council is currently being reconfigured in coordination with Sudan’s Minister of Industry. The Egyptian ministry explained that this highlights the council’s importance and the pivotal role it is set to play in developing economic and investment relations between the two countries during the coming period.