Egypt’s newly appointed Minister of Investment and Foreign Trade, Hassan El-Khatib, has outlined a comprehensive plan to significantly boost the country’s exports, to achieve the goal of $100bn annually.
El-Khatib, in his first meeting with ministry leaders, emphasised the government’s commitment to this ambitious target. This came in a Tuesday press statement.
He highlighted the crucial role of the private sector in achieving this goal and pledged to strengthen collaboration with investors, exporters, and importers to ensure a smooth implementation of the national export strategy.
The multi-pronged strategy focuses on several key areas, in the lead is stimulating export-oriented investments. The ministry will actively encourage and support investments that increase export capacity. This includes fostering a business environment that facilitates export growth.
Another pillar is the enhancement of the export competitiveness of Egyptian products in global markets. This will involve measures to enhance product quality, diversify offerings, and align with international trends.
The strategy also aims to identify and explore new export markets as a priority. The ministry plans to achieve this through participation in international trade fairs, establishing strategic partnerships, and leveraging diplomatic channels.
Nevertheless, the ministry will work to ensure Egyptian exporters can fully benefit from existing free trade agreements. This includes providing comprehensive information and support, streamlining customs procedures, and addressing any trade barriers.
This will go hand in hand with the existing export support programs, such as the Export Support and Burden Repayment Program, according to the minister, which will be fully utilised to provide exporters with financial and logistical assistance.
El-Khatib added that the ministry will expand exporter training programs, equipping participants with the skills and expertise needed to navigate international trade.
Moreover, both domestic and international trade exhibitions will be actively promoted and supported. Domestic exhibitions will provide a platform for Egyptian businesses to showcase their products, while participation in key international fairs will enhance Egypt’s visibility in the global marketplace.
