Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, stressed the importance of boosting exports for achieving economic stability and building a competitive economy at the first annual forum organised by the General Authority for Export and Import Control (GOEIC).
The forum, titled “Shifting Mindsets to Unlock Export Potential,” was held on Tuesday and brought together key stakeholders from the government, business community, and development partners.
Al-Mashat emphasised that export growth is essential for strengthening Egypt’s economy, as it enhances foreign currency flows and encourages job creation. She noted that the Egyptian government is committed to investing in industrial development to encourage local production and increase the competitiveness of Egyptian products in global markets.
The Minister outlined the ministry’s efforts to improve development planning mechanisms, promote international partnerships, and guide public investment spending to create opportunities for the private sector.
She emphasised the need for a unified vision to enhance macroeconomic stability, improve public finances, implement structural reforms, and increase the private sector’s role in the economy.
Al-Mashat highlighted the importance of long-standing relationships with international development partners and highlighted the ministry’s ongoing work with the World Bank on an industrial development strategy.
She also stressed the strong partnership with the US Agency for International Development (USAID), particularly through the Trade and Investment Promotion in Egypt Agreement (TIPE) which funds the Trade Reform and Export Development in Egypt (TRADE) project. The TRADE project aims to enhance the export capacity of small and medium enterprises (SMEs) across vital sectors, ultimately improving trade and elevating the role of Egyptian businesses in the global marketplace.
Despite global challenges, Al-Mashat said that Egypt is committed to advancing its economy through three strategic priorities: enhancing competitiveness and improving the business environment, building macro-fiscal resilience, and supporting a green economy. A core element of this approach is empowering the private sector, especially exporting companies, to seize opportunities in international markets.
She also highlighted the launch of the digital “Hub for Advisory, Finance & Investment for Enterprises,” a one-stop shop designed to streamline support from development partners to the private sector.
Furthermore, the minister commended GOEIC’s efforts in approving carbon reduction certificates for exporting companies and the recent launch of the Egypt’s Financial Regulatory Authority’s (FRA) voluntary carbon market. She stressed that all these efforts are integrated to enhance the government’s vision and increase the competitiveness of Egyptian products.
The forum concluded with the signing of a memorandum of understanding between the GOEIC and the Egyptian Environmental Affairs Agency (EEAA), witnessed by the Minister of Planning, Economic Development and International Cooperation, and the Minister of Investment and Foreign Trade.
