Ahmed Samir, Minister of Trade and Industry, has held a meeting with a delegation from the Turkish company Eskafi. The meeting reviewed the company’s plan to inject new investments into the Egyptian market in the field of leather and gelatin production.
Samir stressed the ministry’s keenness on providing support for local and foreign investments operating in the Egyptian market, in cooperation with various ministries and concerned authorities in the country. The meeting also tackled the distinct investment opportunities and ingredients available in the Egyptian market in the leather sector, especially the availability of raw materials and qualified labor, as well as the Robbiki Leather City. The city represents a great edifice for the industry. In addition, there are many free and preferential trade agreements concluded with a large number of countries and major economic blocs around the world, which allow free access to Egyptian products to a large number of regional and global markets.
Samir highlighted the state’s keenness on upgrading the leather industry, with the aim of making Egypt a strategic center for the leather industry at the local, regional and international levels, by achieving integration between value chains in the Egyptian leather industry. This would end up creating high-quality products that are capable of competing in the domestic and foreign markets.
The Minister of Trade and Industry pointed out that the Turkish company is currently considering pumping new investments into the Egyptian market, through the establishment of a factory for the production of food gelatin and a number of other materials extracted from leather. The investments amount to $40m. It will also rehabilitate and operate three production units in the Robbiki Leather City, with investments amounting to $6m.
For their part, the representatives of the Turkish company said that the company works in the field of leather and the production of gelatin and collagen, and it owns four leather factories and two gelatin factories. It acquired 40% of the Turkish market, as it relies on the application of modern technology in production to reduce waste and maximize the benefit of raw materials.
The company’s officials added that the company’s targeted projects in Egypt contribute to providing the Egyptian market’s needs for a number of products extracted from leather, as well as exporting to foreign markets.
