The ministry is targeting increasing export rates and expanding markets to which Egypt exports to in order to meet the state’s goal of upping exports to $100 billion annually
Recently appointed Minister of Trade and Industry Ahmed Samir released his first official statement yesterday, expressing his eagerness to improve local industry and foreign trade sectors.
Samir also stressed the importance of successfully integrating legislative and executive authorities to contribute to implementing the state’s objectives in achieving comprehensive and sustainable economic development.
He added that the ministry is pushing forward in restoring and improving the competitiveness of Egyptian products, enhancing existing industries, and attracting new investments to execute new industrial projects that aim to meet the needs of the local market.
The minister pointed out that there are some files that the ministry will prioritize in the coming period, including boosting local manufacturing, increasing the percentage of local components in final products, providing raw materials and production requirements to drive production, and encouraging the use of modern technologies.
Samir highlighted that current industrial policy will be evaluated, and economic legislations will be discussed and reviewed, and new key decisions aimed at improving local industrial sectors, with a particular focus on sectors in which Egypt has a distinct advantage.
The ministry is targeting increasing export rates and expanding markets to which Egypt exports to in order to meet the state’s goal of upping exports to $100 billion annually.
International happenings in the world, and the economic repercussions that followed, have created challenges that require continuous diligent work with a strong will to strengthen the Egyptian economy and improve the country’s flexibility and ability in handling future crises, he added.
The coming period will see more coordination and communication with business community, including producers, exporters and importers to set the stage for the next phase, Samir noted. This will highlight the ministry’s action plan, pointing out that they represent key players in achieving Egypt’s vision to boost manufacturing and export sectors.
