Samir explained that the company will start production in Robbiki Leather City to take advantage of the city's great advantages as a model for leather tanning and leather manufacturing
Italian company COFRA safety footwear to establish a factory in Egypt with investments amounting to 10 million euros, the Minister of Trade and Industry, Ahmed Samir, said during his meeting with the Director of Industrial and Logistics Development of COFRA, Michele Tricari on Thursday.
Samir explained that the company will start production in Robbiki Leather City to take advantage of the city's great advantages as a model for leather tanning and leather manufacturing.
Trade minister also stated that coordination is currently underway, in cooperation with the Egyptian Ministry of Transport, to run a RoRo line between the Egyptian ports in Damietta and Alexandria to the port of Trieste in Italy, which will contribute to facilitating the movement of trade between Egypt and Italy and reduce the arrival time of Egyptian goods to Europe.
Earlier this year, The Central Agency for Public Mobilization and Statistics (CAPMAS), said that the trade volume between Egypt and Italy increased in 2021 by 29% to reach $5.8 billion compared to $4.5 billion recorded in the previous year.
Moreover, Italian investments in Egypt increased by 40.3% during Q1 of FY 2021/22, reaching $448.8 million.
