Trade – Daily News Egypt https://dailynewsegypt.com Egypt’s Only Daily Independent Newspaper In English Thu, 17 Jan 2019 08:00:04 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Exports up by 6.8% in October 2018 https://dailynewsegypt.com/2019/01/09/exports-up-by-6-8-in-october-2018/ https://dailynewsegypt.com/2019/01/09/exports-up-by-6-8-in-october-2018/#respond Wed, 09 Jan 2019 17:13:45 +0000 https://www.dailynewsegypt.com/?p=686365 Trade balance deficit scored $4.56bn

The post Exports up by 6.8% in October 2018 appeared first on Daily News Egypt.

]]>
The deficit of trade balance reached $4.56bn during October 2018, versus $3.50bn for the same month of the previous year, an increase of 30.2%.

According to the Central Agency for Public Mobilisation and Statistics, the export value increase by 6.8% as it reached $2.42bn during October 2018, versus $2.27bn for the same month of the previous year, due to an increase in the value of some commodities such as crude oil by 5.8 %, fertilisers by 4.5%, and plastics in primary forms by 21.4 %.

The export value of some commodities decreased during October 2018, versus the same month of previous year, including items such as garments by 1.4%, fresh fruits by 23.1%, furniture by 0.5%, soap and detergents by 23.8%.

The import value increased by 21% scoring $6.98bn during October 2018, versus $5.77bn in the same month of the previous year, due to an increased value of some commodities such as raw materials of iron or steel by 1.7%, cars by 104.4%, and wheat by 16.1%.

The import of some commodities decreased in October 2018, versus the same month of the previous year such as corn by 3.4%, meat by 20.5%, petroleum products by 70.4%, and pumps by 35.7%.

The post Exports up by 6.8% in October 2018 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/01/09/exports-up-by-6-8-in-october-2018/feed/ 0
Domestic trade development 2018 overview https://dailynewsegypt.com/2019/01/09/domestic-trade-development-2018-overview/ https://dailynewsegypt.com/2019/01/09/domestic-trade-development-2018-overview/#respond Wed, 09 Jan 2019 08:00:34 +0000 https://www.dailynewsegypt.com/?p=686252 New logistics zones with investments of EGP 33bn

The post Domestic trade development 2018 overview appeared first on Daily News Egypt.

]]>
The Internal Trade Development Authority (ITDA) announced the projects that were accomplished in 2018, including the establishment of a trade and logistics zones in many governorates. The ITDA has started the construction of four zones with capital value of EGP 12 to 18bn.

Furthermore, the ITDA offered bids for investor in five new zones at the end of 2018, with estimated investments worth EGP 10 to 15bn. The total cost of programmes targeting the development of the supply and internal trade sector in the fiscal year (FY) 2018/19 hits EGP 130bn according to the ministry of planning.

Ibrahim Ashmawy, chairperson of the ITDA, said that the current plan of attracting new investments will help in establishing commercial chains, develop markets, commercial and logistic zones in all governorates, in order to provide food commodities to Egyptian families.

He pointed out that the contribution of the domestic trade and related sectors to the GDP during 2018 has increased to reach 18% from 17%. The total direct employment opportunities expected to be provided since its inception in 2018 until 2020 range between 110,000 and 150,000 prospects.

In addition, a major foreign retail chain will invest EGP 10bn in Egypt over two years by establishing five hypermarkets in Greater Cairo on a total area of 100,000 sqm, and two logistic zones in Alexandria and Upper Egypt. The investment comes as the outcome of the authority’s efforts and visits to Gulf countries to attract foreign direct investments (FDI).

Egypt is on top of the 21 COMESA members in terms of FDIs with a 42% share in the value of $7.4bn achieved in 2017.

The post Domestic trade development 2018 overview appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/01/09/domestic-trade-development-2018-overview/feed/ 0
10.8% increase in Egypt`s exports in 11 months: Nassar https://dailynewsegypt.com/2018/12/29/10-8-increase-in-egypts-exports-in-11-months-nassar/ https://dailynewsegypt.com/2018/12/29/10-8-increase-in-egypts-exports-in-11-months-nassar/#respond Sat, 29 Dec 2018 14:14:51 +0000 https://www.dailynewsegypt.com/?p=685395 Consumer-made commodities do not exceed 7% of Egypt’s imports, says fedcoc secretary general

The post 10.8% increase in Egypt`s exports in 11 months: Nassar appeared first on Daily News Egypt.

]]>
The Minister of Trade and Industry, Amr Nassar, announced that Egypt’s exports increased by 10.8%, recording $22.6bn during the first eleven months of this year, compared to $20.4bn during the same period last year.

He elaborated that the ministry expected that the state’s exports will witness a hike of 10.6%, reaching $25 bn by the end of this year, up from $22.4 bn during 2017.

Nassar further stated that there are some sectors whose exports rose in 2018, including chemical industries; fertilisers; ready-made garments; engineering industries; electronics; medical industries; textiles; food industries, and books.

Concerning the largest destinations who imported from Egypt during the aforementioned period, Nassar explained that they include the UAE; Turkey; the US; Italy; Saudi Arabia; the UK; Spain; Algeria, and France.

Notably, the ministry of trade and industry revealed earlier that Egypt’s imports registered $49b during the first nine months of 2018 (9M18), with an increase by 6.2%, compared to the same period of 2017, while exports reached $18bn by the end of September, compared to $16bn during the same period of 2017, with a 10% increase, meaning that there is still a large gap between the country’s exports and imports..

On that note, Alaa Ezz, secretary general of the Federation of Egyptian Chambers of Commerce ( fedcoc) noted that by analysing Egyptian imports, it revealed that the majority of imports are food commodities like wheat, which the state should import, meanwhile it also revealed also that a large part of Egypt`s imports are equipment, tools ,and production supplies, while the remainder are consumer-produced commodities which did not exceed 7% of imports.

By asking Ezz, how he could evaluate Egypt’s current export status in light of the state’s direction to increase exports and open new markets for Egyptian commodities, he stated that “It was our hope that with the pound floatation, that Egyptian commodities’ prices will be cut by half of its price before the pound floatation, which will subsequently increase the competitive value of Egyptian commodities, but unfortunately, this was not achieved for many reasons, including that about 60% of the industrial goods in Egypt consists of foreign components.”

Furthermore, he highlighted that there are markets in which Egypt has an excellent opportunity to export to, however, Egypt has no direct transport access to them, thus the country is currently studying establishing logistic centres, both local or regional, along the borders of Libya and Sudan.

“Hence, the creation of new shipping lines and the acceleration of establishing main roads to connect Egypt with the African market, seeking to have a road connecting Halaib to the Centre of  Africa, which will of course increase Egyptian exports and trade exchange, and transform Egypt into a logistic centre,” he asserted.

   

The post 10.8% increase in Egypt`s exports in 11 months: Nassar appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/29/10-8-increase-in-egypts-exports-in-11-months-nassar/feed/ 0
Egypt is not properly benefiting from QIZ agreement:  fedcoc secretary general https://dailynewsegypt.com/2018/12/25/egypt-is-not-properly-benefiting-from-qiz-agreement-fedcoc-secretary-general/ https://dailynewsegypt.com/2018/12/25/egypt-is-not-properly-benefiting-from-qiz-agreement-fedcoc-secretary-general/#respond Mon, 24 Dec 2018 22:36:45 +0000 https://www.dailynewsegypt.com/?p=684936 28.2%, increase in volume of Egypt’s exports to US during first 9M18, says CAPMAS

The post Egypt is not properly benefiting from QIZ agreement:  fedcoc secretary general appeared first on Daily News Egypt.

]]>
The Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed that Egypt’s exports to the US increased by 28.2% during the period from January to September 2018.

The CAPMAS explained that the volume of the Egyptian exports to the US exceeded $1.30bn, 7 bn during the first nine months of 2018 (9M18), compared to $1.020bn during the same period in 2017, an increase of $287.5m or 28.2%.

According to CAPMAS’s recent bulletin on Egypt’s exports and imports during the period from January to September 2018, the most prominent Egyptian exports to the US were clothes, fuel, and fertilisers.

“The Us is one of the top five countries importing from Egypt during the above mentioned period of this year, accounting for 6.1% of Egypt’s total exports during the first 9M18 recording $21.6bn,” according to the CAPMAS.

Notably, this volume of exports is still limited in view of the fact that Egypt’s products have a free gateway to the US through the Qualifying Industrial Zones (QIZ) agreement, which is a protocol between the US, Egypt, and Israel. The agreement enables unlimited duty-free exports of Egyptian goods to the US market.

As for Alaa Ezz, secretary general of the Federation of Egyptian Chambers of Commerce(fedcoc), he informed Daily News Egypt that Egypt is not properly benefiting from the QIZ agreement, as it focused on exporting ready-made garments, however all traders and manufacturers did not think to diversify their industries in order to increase Egyptian exports to the US.

“If an investor comes to Egypt to open a new factory, why do we not explain to him that if he develops the factory in any QIZ area, he will be able to export to the US duty-free?” Ezz asked.

Notably, the QIZ areas are represented in 14 geographical regions in Egypt, which were designated by the US, from which goods can be exported duty-free to the US.

Ezz elaborated that most of the investments which started in the QIZ zones are Turkish and Chinese companies, thus most of the exports of the QIZ are Turkish and Chinese investments which are manufactured here in Egypt, along with some Egyptian companies.

He affirmed that Egypt needs to further promote the idea of manufacturing in the QIZ regions, explaining that the Turkish and Chinese companies began their investments in the QIZ regions alone without any promotional efforts from Egypt.

The post Egypt is not properly benefiting from QIZ agreement:  fedcoc secretary general appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/25/egypt-is-not-properly-benefiting-from-qiz-agreement-fedcoc-secretary-general/feed/ 0
Exports up by 21.7% in September 2018: CAPMAS https://dailynewsegypt.com/2018/12/25/exports-up-by-21-7-in-september-2018-capmas/ https://dailynewsegypt.com/2018/12/25/exports-up-by-21-7-in-september-2018-capmas/#respond Mon, 24 Dec 2018 22:33:37 +0000 https://www.dailynewsegypt.com/?p=684973 Deficit value of trade balance reached $3bn in September 2018, versus $3.35bn for same month of 2017

The post Exports up by 21.7% in September 2018: CAPMAS appeared first on Daily News Egypt.

]]>
According to the Central Agency for Public Mobilisation and Statistics’ (CAPMAS) bulletin on foreign trade in September 2018, the exports value increased by 21.7%, reaching $2.32bn, versus $1.9bn in September 2017. This is due to the increase in the value of some commodities such as crude oil, 36%; garments 39.5%; fertilisers 55.6%, and plastics in primary forms 12.9%.

Meanwhile, the exports value of some commodities decreased during September 2018, versus the same month of the previous year such as fresh fruits by 4.5%; soap and detergents by 22.6%; tiles and sanitary ware and cupboards by 3.2%, and pharmaceuticals by 14.4%.

The CAPMAS noted that the deficit value of trade balance reached $3bn during September 2018, versus $3.35bn for the same month of the previous year, a decrease of 10.2%.

Furthermore, the CAPMAS explained that the imports value increased by 1.4%, as it reached $5.32bn during September 2018, versus $5.25bn in September 2017, due to the increased value of some commodities such as medications and pharmaceutical preparations by 11.4%; soybeans by 16.5%; spare parts for cars by 20.5%; pipes; tubes and fittings by 14.5%.

Imports of some commodities decreased in September 2018, against September 2017, such as raw iron or steel by 16.7%; wheat by 37.9%; petroleum products by 36%, and plastics in primary forms by 20.5%.

The post Exports up by 21.7% in September 2018: CAPMAS appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/25/exports-up-by-21-7-in-september-2018-capmas/feed/ 0
16.8 % increase in value of Egypt’s exports in 2017: CAPMAS https://dailynewsegypt.com/2018/12/20/16-8-increase-in-value-of-egypts-exports-in-2017-capmas/ https://dailynewsegypt.com/2018/12/20/16-8-increase-in-value-of-egypts-exports-in-2017-capmas/#respond Thu, 20 Dec 2018 12:00:57 +0000 https://www.dailynewsegypt.com/?p=684556 Italy comes in first place with 8.3% of total Egyptian exports, says CAPMAS

The post 16.8 % increase in value of Egypt’s exports in 2017: CAPMAS appeared first on Daily News Egypt.

]]>
The Central Agency for Public Mobilisation and Statistics (CAPMAS) announced that the total value of Egypt’s exports reached $26.29bn in 2017, compared to $22.49bn in 2016, an increase of 16.8%.

The

CAPMAS added in its annual bulletin on foreign trade that the total value of non-petroleum exports reached $22.49bn in 2017, compared to $19.64bn in 2016, an increase of 14.5 %.

On the other hand, the total value of petroleum exports reached $3.80bn in 2017, up from $2.86bn in 2016, an increase of 32.9%.

In terms of the exports’ manufacturing degree, the CAPMAS revealed that the

Egyptian exports during 2017 were concentrated in finished goods, which reached 46.1% of the total Egyptian exports.

“Furthermore, the value of finished goods exports reached $12.12bn during 2017, up from $10.86bn in 2016, an increase of 11.6%,” according to the report.

Meanwhile, the CAPMAS declared that the value of semi-manufactured goods exports was $6.55bn in 2017, up from $5.97 bn in 2016, an increase of 9.6%.

Concerning the most important goods whose export values witnessed an increase in 2017, the report stated that crude oil reached $2.0bn in 2017, compared to $1.77bn in 2016, an increase of 18.1%.

Meanwhile, the value of ready-made clothing and related accessories reached $1.45bn in 2017, against $1.26bn in 2016, an increase of 15.1%.

“The value of fertilisers reached $1.04bn in 2017, compared to $0.723bn in 2016, an increase of 43.8%,” according to the CAPMAS.

The CAPMAS also revealed that the value of plastics and their products reached $860m in 2017, compared to $620m in the previous year, a hike of 38.7%.

According to the report, the value of iron and its products reached $761m in 2017, up from $548m in 2016, a jump of 38.9%.

In the context of the major countries which receive the Egyptian exports, the CAPMAS stated that Italy came in the first place with 8.3% of total exports, noting that exports to Italy increased by about 50% in 2017, recording $2.198bn, up from $1.46bn in 2016.

The report announced that Turkey ranked second in representing 7.3% of total exports, as exports increased by 39.1%, reaching $1.92bn in 2017, versus $1.38bn in 2016.

“Saudi Arabia came in the third place with 5.9% of the total exports, as the value of exports decreased by 12.8% to reach $1.56bn in 2017, down from $1.79bn in 2016,” the CAPMAS showed.

Furthermore, the report said that the USA ranked fourth, representing 5.2% of total exports, noting that the value of exports increased by 23.4%, amounting to $1.37bn in 2017, up from $1.11bn in 2016.

In terms of the economic blocs, the CAPMAS stated that the Arab countries ranked first with 37.3% of the total exports, followed by western European countries with 26.3%, then east European countries with 13.7%.

Notably, the CAPMAS is the official statistical agency of Egypt that collects, processes, analyses, and disseminates statistical data and conducts census.

The post 16.8 % increase in value of Egypt’s exports in 2017: CAPMAS appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/20/16-8-increase-in-value-of-egypts-exports-in-2017-capmas/feed/ 0
Dallied exports https://dailynewsegypt.com/2018/12/12/dallied-exports/ https://dailynewsegypt.com/2018/12/12/dallied-exports/#respond Wed, 12 Dec 2018 13:00:05 +0000 https://www.dailynewsegypt.com/?p=683623 Imports worth twice exports: CEIC

The post Dallied exports appeared first on Daily News Egypt.

]]>
Tracking the export journey of Egyptian products for 23 years, from 1995 to 2018, the CEIC, a pioneer entity in markets studies all over the world, highlighted that Egypt’s total exports dropped by 8.6% year-over-year (y-o-y) in August 2018, compared with an increase of 16.3% y-o-y in the previous month.

On the other hand, Egypt’s total exports growth data is updated on a monthly basis, available from July 1995 to August 2018, with an average rate of 10.1%.

According to the CEIC indicator which is based on official data, exports reached an all-time high of 146.6% in June 2008, and a record low of -60.7% in August 1995.

Meanwhile, Egypt’s total exports registered $2bn in August 2018; while total imports recorded $5.9bn in the same month of the year, which saw an increase of 8.2% y-o-y. In addition, Egypt’s trade balance recorded a deficit of $4.0bn at the same time.

The post Dallied exports appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/12/dallied-exports/feed/ 0
Exports to exceed $3bn by 2020: Trading Economics https://dailynewsegypt.com/2018/12/12/exports-to-exceed-3bn-by-2020-trading-economics/ https://dailynewsegypt.com/2018/12/12/exports-to-exceed-3bn-by-2020-trading-economics/#respond Wed, 12 Dec 2018 12:30:26 +0000 https://www.dailynewsegypt.com/?p=683617 Major exports oil, other mineral products which occupy 32% of total exports

The post Exports to exceed $3bn by 2020: Trading Economics appeared first on Daily News Egypt.

]]>
In Egypt, according to Trading Economics-a remarkable US-based company which provides over 2m economic indicators for nearly 200 countries-exports account for about a quarter of the GDP. The major exports are oil and other mineral products which occupy 32% of total exports, chemical products shape12%, while exports of agricultural products and livestock and others fats factor together 11%, and textiles make up10.5%.

Meanwhile, other exports including base metals, machinery, electrical appliances, foodstuff, beverages and tobacco do not exceed 15% of the export volume.

Major export partners are Italy, Spain, France, Saudi Arabia, India and Turkey, which are considered the top ranked destinations for Egyptian exports.

Exports in Egypt increased to $2.3bn in September from $1.983bn in August of 2018.

Egyptian exports are expected to reach $2.7bn by the end of this quarter, according to Trading Economics’ global macro models and analysts’ expectations.

Looking forward, it estimates exports to stand at $2.240bn in 12 months.

On the long-term, Egyptian exports are projected to drift around $3.400bn in 2020, according to its econometric models.

The post Exports to exceed $3bn by 2020: Trading Economics appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/12/exports-to-exceed-3bn-by-2020-trading-economics/feed/ 0
Government must take action steps to deal with challenges, says chairman of EFEC https://dailynewsegypt.com/2018/12/12/government-must-take-action-steps-to-deal-with-challenges-says-chairman-of-efec/ https://dailynewsegypt.com/2018/12/12/government-must-take-action-steps-to-deal-with-challenges-says-chairman-of-efec/#respond Wed, 12 Dec 2018 12:00:04 +0000 https://www.dailynewsegypt.com/?p=683610 Strategy also aims to increase furniture exports from $350m to $800m per annum: Derias

The post Government must take action steps to deal with challenges, says chairman of EFEC appeared first on Daily News Egypt.

]]>
Chairperson of the Egyptian Furniture Export Council (EFEC), Ihab Derias, affirmed that the export sector is facing considerable challenges especially after the implementation of the new economic reforms two years ago.

He informed Daily News Egypt that the hardest challenge the sector is currently dealing with is the government’s delay in releasing exporters’ debts which stand at EGP10bn. These receivables should have been retrieved two years ago, and the delay increases the burden on exporters due to increases in the prices of raw materials and production components.

“The new regulations which manage the organisation of overseas exhibits Egypt are also harm the entire sector in general, and the furniture sector in particular. These regulations were imposed without considering the export councils, so they do not meet the demands of exports. These regulations also forced many companies and manufacturers to not participate in exhibits abroad,” Derias explained.

For its part, according to Derias, the EFEC prepared a new strategy to increase the sector’s exports three times its current supply over 10 years. The new strategy focuses on achieving eight goals, including increasing the industrial growth rate from 5% up to 8%. In addition, the plan is to decrease the import supply from 70% to about 40%, as well as increasing the domestic feeding industries in the final product from between 5% and 10% to between 15% and 20%.

The strategy also aims also to increase furniture exports from $350m to $800m per annum, in parallel with increasing the number of exporters in the sector by 50%.

“Depending on the new strategy with action steps taken by the government to deal with all the problems we are facing, the sector could offer about one million job vacancies, and attract about $1m new investments, in addition to increasing the export volume by $4m over the coming five years,” elaborated Derias.

The sector includes about 120,000 establishments with a workforce of one million employees, which make the sector one of the most promising divisions in the Egypt overseas.

The post Government must take action steps to deal with challenges, says chairman of EFEC appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/12/government-must-take-action-steps-to-deal-with-challenges-says-chairman-of-efec/feed/ 0
Exporters’ debts hit EGP 10bn, says EBA https://dailynewsegypt.com/2018/12/12/exporters-debts-hit-egp-10bn-says-eba/ https://dailynewsegypt.com/2018/12/12/exporters-debts-hit-egp-10bn-says-eba/#respond Wed, 12 Dec 2018 11:30:40 +0000 https://www.dailynewsegypt.com/?p=683614 Situation is critical, negatively affecting our economy, reputation; government should take positive action steps, says Eissa

The post Exporters’ debts hit EGP 10bn, says EBA appeared first on Daily News Egypt.

]]>
As the export sector is passing through a critical situation due to the government’s delay in releasing exporter’s debt payments, several concerned bodies have declared their support of the sector against the government’s lack of action.

The Egyptian businesspersons’ association (EBA), sent its remarks on how this delay is harming the sector to Prime Minister Mostafa Madbouly.

According to the EBA’s remarks, the Export Development Fund, still insists on not releasing export debts since October 2015 which are currently EGP 10bn. In addition, it has yet to pay the value-added tax refund for products which already were exported, which reduced Egypt’s competiveness, as well as many stopped many production lines from working, increased unemployment rates, and declined foreign exchange earnings.

The EBA stressed that the government is contradicting itself, as it has announced that it will provide all facilities and incentives to investors and exporters, while the ministry of finance has not allocated any funds to release exporters’ debts. This situation represents a negative message to all importers, exporters, and the entire global markets, which affects both the economy and investment atmosphere.

Chairperson of the EBA board, Ali Eissa, revealed to Daily News Egypt that the EBA and export councils called for a meeting with the prime minister to discuss all the troubles that export sector faces. Moreover, Eissa added, to urge the government to take positive steps for the sake of the sector such as allocating funds to release their overdue payments.

“The situation became very critical. In addition, it is negatively affecting our economy and its reputation. The government should take positive action steps to boost the sector, especially since it is considered one of the top three sources of the national income along with tourism and investments,” Eissa concluded.

The post Exporters’ debts hit EGP 10bn, says EBA appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/12/exporters-debts-hit-egp-10bn-says-eba/feed/ 0
Exports among challenges against country’s promising opportunities https://dailynewsegypt.com/2018/12/12/exports-among-challenges-against-countrys-promising-opportunities/ https://dailynewsegypt.com/2018/12/12/exports-among-challenges-against-countrys-promising-opportunities/#respond Wed, 12 Dec 2018 10:30:43 +0000 https://www.dailynewsegypt.com/?p=683606 Situation impeded state efforts of doubling export rates as it is important source of national income

The post Exports among challenges against country’s promising opportunities appeared first on Daily News Egypt.

]]>
Although the budget of the Exports Development Fund, a state-owned authority, offers subsidy funds to the export sector, has been increased in the fiscal year 2018/2019 up to EGP 4bn, the new increase will not meet exporters’ demands.

Actually, the government owes exporters about EGP 10bn in overdue payments, which have been delayed since October 2015. This situation impeded all state efforts towards doubling export rates as it is an important source of national income.

However, other perspectives expected that the sector can achieve an annual growth rate of 10%, based on actual procedures which have taken by concerned bodies.

It is worth notably that minister of planning Hala Al-Saied announced that government seeks to increase Egypt’s exports up to 15 per cent annually.

She added during her meeting with governor of Central Bank of Egypt CBE, the Council of Governors of Islamic Development Bank IsDB, and representatives IsDB Islamic Corporation for he Insurance of Investment and Export Credit ICIEC that it comes in response to the need for increase foreign currency amount

The post Exports among challenges against country’s promising opportunities appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/12/exports-among-challenges-against-countrys-promising-opportunities/feed/ 0
Liberalisation of custom dollar rate de rigueur: Mohamed Moeit https://dailynewsegypt.com/2018/12/11/liberalisation-of-custom-dollar-rate-de-rigueur-mohamed-moeit/ https://dailynewsegypt.com/2018/12/11/liberalisation-of-custom-dollar-rate-de-rigueur-mohamed-moeit/#respond Tue, 11 Dec 2018 08:30:29 +0000 https://www.dailynewsegypt.com/?p=683476 If new direction negatively affects non-essential imported product, we will transfer affected product to list of essential products, set its custom dollar rate at EGP 16, we will deal with matter with absolute flexibility

The post Liberalisation of custom dollar rate de rigueur: Mohamed Moeit appeared first on Daily News Egypt.

]]>
Egypt’s Minister of Finance, Mohamed Moeit, ståressed that his decision to liberalise the custom dollar for non-essential products and goods is to protect the national industry sector, and to boost the state’s efforts to depend on manufacturing instead of importing.

Moeit informed Daily News Egypt in an exclusive interview that the allegations of some importers that this step has come in response to some businesspersons and manufacturers is completely incorrect. He explained the actual reasons behind taking this decision were to protect the domestic industry, offer more job vacancies, and ensure a fair competition exists between local products and imported ones.

“The economic reforms and its consequences on Egypt’s economic performance and its improvement prompted us to choose such a decision, and this step is a good one in order to boost the economic reforms goals and stimulate the domestic industry for it to become as a main source of national income and to strengthen the confidence in the Egyptian economy”, Moeit stated.

In parallel with this decision, according to Moeit, the ministry of finance has decided to maintain the custom dollar for essential, strategic, standard, and semi-finished products and goods at LE16, thus the purpose is not to increase revenues, but to further develop the Egyptian market.

“To set the custom dollar rate previously at a fixed price was an exceptional condition due to the fact that the Egyptian economy was on its way towards recovery, as the normal step in this case is that custom dollar rate is set according to the announced exchange rate determined by Central Bank of Egypt. So, the market is currently experiencing its natural direction, especially that this is the direction that is applied in all countries worldwide”, Moeit clarified.

Nevertheless, if the new direction negatively affects any listed non-essential imported products, after its practical application, we will transfer the affected product to the list of essential products and set its custom dollar rate at EGP 16. We will deal with the matter with absolute flexibility, Moeit explained.

The ministry of finance took this decision, in coordination with all concerned bodies, depending on a detailed research of the local market, aiming to improve the living standard of citizens, and to stabilise the price of commodities, concluded Moeit.

The post Liberalisation of custom dollar rate de rigueur: Mohamed Moeit appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/11/liberalisation-of-custom-dollar-rate-de-rigueur-mohamed-moeit/feed/ 0
Custom dollar, propelling local manufacturing, troubling importers https://dailynewsegypt.com/2018/12/11/custom-dollar-propelling-local-manufacturing-troubling-importers/ https://dailynewsegypt.com/2018/12/11/custom-dollar-propelling-local-manufacturing-troubling-importers/#respond Tue, 11 Dec 2018 08:00:29 +0000 https://www.dailynewsegypt.com/?p=683475 Decision triggered controversy among all concerned bodies

The post Custom dollar, propelling local manufacturing, troubling importers appeared first on Daily News Egypt.

]]>
The ministry of finance has announced that the custom dollar price will follow dollar exchange price set by the Central Bank of Egypt for non-essential commodities, raising it by about 15%, while it remains stable for essential and strategic ones.

The decision that triggered controversy among all concerned bodies, and is one of the consequences of the economic reforms implemented two years ago.

Meanwhile, various other sources considered this step as an important procedure to protect the national industry; whereas others criticised it, describing it as a detrimental process for domestic manufacturing and for the import sector.

The post Custom dollar, propelling local manufacturing, troubling importers appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/12/11/custom-dollar-propelling-local-manufacturing-troubling-importers/feed/ 0
11%, 19% annual increase in non-oil Egyptian exports, imports, respectively in 10M18 https://dailynewsegypt.com/2018/11/26/11-19-annual-increase-in-non-oil-egyptian-exports-imports-respectively-in-10m18/ https://dailynewsegypt.com/2018/11/26/11-19-annual-increase-in-non-oil-egyptian-exports-imports-respectively-in-10m18/#respond Mon, 26 Nov 2018 15:13:28 +0000 https://www.dailynewsegypt.com/?p=682098 Rationing Egypt's imports’ decision negatively affected state’s exports, industry, says Shiha

The post 11%, 19% annual increase in non-oil Egyptian exports, imports, respectively in 10M18 appeared first on Daily News Egypt.

]]>
Non-oil Egyptian exports increased by 11% year-over-year (y-o-y) during the period from January to October 2018, recording $20.642bn ,compared to $18.551bn during the same period last year, an increase of $2.91bn, according to the latest report received by Minister of Trade and Industry, Amr Nassar, from the General Organization For Export and Import Control.

For his part, Chairperson of the General Organisation for Export and Import Control, Ismail Jaber, said that five export sectors achieved significant growth during the first 10M18 including, books and binders sector, chemicals and fertilisers sector, medical industries sector, textile sector, and the ready-made garments sector.

He said that the largest markets receiving Egyptian exports during the 10M18 were in the United Arab Emirates, Turkey, America, Italy, the United Kingdom, Spain, Algeria and France.

Unfortunately, Egypt’s imports increased by 19% during the same aforementioned period, reaching $57.76bn, compared to $48.45bn during the same period last year, an increase of $9.22bn.

Jaber added that the sectors that recorded an increase in the volume of imports during the first ten months of this year included furniture sector, leather products, garment sector, and the handicrafts sector.


Jaber pointed out that the leading exporters to the Egyptian market during 10M18 included China, the US, Russia, Germany, Turkey, Ukraine, and Saudi Arabia.

Over and above, the non-oil foreign trade in Egypt rose by 16.8% y-o-y during 10M18, amounting to $78.40bn from the beginning of January until the end of October, compared to $67.96 bn during the same period last year, an increase of $11.311 bn.

These indications mean that there is a large gap between Egypt’s exports and imports, despite the fact that the Egyptian government has adopted a number of measures and policies to cut back on imports and reduce the depletion of hard currency, especially following the decision of the former Minister of Trade and Industry, Tarek Kabil, to ban the import of 50 commodities only after registering the factory of the manufacturing country in 2016.

In addition to the decisions of the Central Bank of Egypt (CBE) to reduce consumption, which stipulated that banks have to obtain 100% cash insurance, instead of 50% on imports carried out for the account of commercial companies or government agencies.

For his part, Ahmed Shiha, former head of the importers division at the Cairo Chamber of Commerce, stated that decisions of cropping imports were wrong decisions, as Egypt depends 100% on its exports and industry in a foreign component ranging between raw materials, production requirements, intermediate goods and capital goods.

Therefore, the decision of rationing Egypt’s importing also led to decreased manufacturing and industry in Egypt, and consequently caused decreased exports, confirming that the decision negatively affected Egyptian exports.                  

The post 11%, 19% annual increase in non-oil Egyptian exports, imports, respectively in 10M18 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/11/26/11-19-annual-increase-in-non-oil-egyptian-exports-imports-respectively-in-10m18/feed/ 0
Egyptian exports down by 12.2% in August: CAPMAS https://dailynewsegypt.com/2018/11/14/egyptian-exports-down-by-12-2-in-august-capmas/ https://dailynewsegypt.com/2018/11/14/egyptian-exports-down-by-12-2-in-august-capmas/#respond Wed, 14 Nov 2018 21:14:48 +0000 https://www.dailynewsegypt.com/?p=681132 Trade deficit scored $3.95bn

The post Egyptian exports down by 12.2% in August: CAPMAS appeared first on Daily News Egypt.

]]>
According to the Central Agency for Public Mobilization and Statistics (CAPMAS) bulletin on foreign trade in August 2018, exports value decrease by 12.2%, falling to $1.98bn during August 2018, versus $2.26bn for the same month of the previous year. This is due to the decrease in the value of some commodities such as garments 19.3%, plastics in primary forms 22.6%, food preparations 5.6%, and carpets 20.1%.

Meanwhile, exports value of some commodities increased during August 2018, versus the same month of previous year such as crude oil by 22.5%, fertilisers by 19.3%, petroleum products by 86.2% , flat rolled iron products by 29.2%.

The CAPMAS added that imports value increased by 0.3% reaching $5.94bn during August 2018, versus $5.92bn for the same month of the previous year, due to the increased value of some commodities such as crude oil by 83.7 %, raw iron and steel by 0.3%, vehicles by 29.2%, and pharmaceutical products by 2.6%.

Imports of some commodities decreased in August 2018, versus the same month of the previous year such as petroleum products by 8.6%, plastics in primary forms by 6.1%, wheat by 31.7%, and meat by 15%.

The post Egyptian exports down by 12.2% in August: CAPMAS appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/11/14/egyptian-exports-down-by-12-2-in-august-capmas/feed/ 0
Egypt’s trade with world registers $88.93bn in 2017/18 https://dailynewsegypt.com/2018/10/28/egypts-trade-with-world-registers-88-93bn-in-2017-18/ https://dailynewsegypt.com/2018/10/28/egypts-trade-with-world-registers-88-93bn-in-2017-18/#respond Sun, 28 Oct 2018 17:27:40 +0000 https://www.dailynewsegypt.com/?p=679395 Imports at $63.103bn, exports score $25.827bn, UAE tops trade partners

The post Egypt’s trade with world registers $88.93bn in 2017/18 appeared first on Daily News Egypt.

]]>
The size of trade exchange between Egypt and the world in the fiscal year (FY) 2017/18 amounted to $88.930bn, according to the Central Bank of Egypt (CBE). They explained in a recent report that Egyptian imports in that period reached $63.103bn, while exports marked $25.827bn.

According to the CBE, the volume of trade between Egypt and the 14 most prominent trade partners amounted to $52.131bn. It added that exports to these countries reached $16.343bn, while imports stood at $35.787bn.

According to the report, the UAE ranked on top of the list of most important trade partners, with a volume of trade worth $5.822bn, including $3.331bn in imports and $2.512bn in exports. China ranked second with volume of trade reaching $5.7863bn, including $5.4062bn in imports and $380.1m in exports , and the USA ranked third with a trade exchange of $5.0213bn, including $2.9406bn in imports and $2.0807bn in exports, followed by Saudi Arabia with volume of trade worth $4.6246bn, including $3.5887bn in imports and $1.0359bn in exports.

As for Italy, which ranked fifth, the trade exchange was in favour of Egypt. With the total volume of trade worth $4.5096bn, including $1.921bn in imports and $2.886bn in exports. The trade exchange between Egypt and Germany in FY 2017/18 reached $3.9883bn, including $2.9628bn in imports and $1.0205m in exports, while trade exchange with the UK reached $3.8543bn, including $2.132bn in imports and $1.722bn in exports.

Moreover, the CBE said that the Egyptian-Russian trade exchange reached $3.4299bn, including $3.1707bn in imports and $259.2m in exports. The size of trade between Egypt and Turkey amounted to $3.0723bn, including $1.937bn in imports against $1.1353bn in exports.

Switzerland ranked 10th on the list of Egypt’s most prominent trade partners with a trade exchange worth $2.8842bn, including $1.9692bn in imports and $915m in imports, followed by France with a total trade exchange of $2.6368bn, including $1.9928bn in imports and $644m in exports.

According to the CBE, trade between Egypt and India in the FY 2017/18 amounted to $2.6288bn, including $1.4937bn in imports and $1.1351bn in exports, followed by Spain with a volume of trade of $2bn, including $1.2042bn in imports and $796.4m in exports. Ranking last on the 14-country list is Brazil. The CBE said that trade exchange with the Latin American country reached $1.877bn, including $1.7582bn in imports and $118.8m in exports.

The CBE did not name the remaining countries. However, collectively the trade exchange between them and Egypt reached $36.7982bn, including $27.3151bn in imports and $9.4831bn in exports.

The post Egypt’s trade with world registers $88.93bn in 2017/18 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/28/egypts-trade-with-world-registers-88-93bn-in-2017-18/feed/ 0
Omega Shipping seeks to increase its business by 54% this year https://dailynewsegypt.com/2018/10/28/omega-shipping-seeks-to-increase-its-business-by-54-this-year/ https://dailynewsegypt.com/2018/10/28/omega-shipping-seeks-to-increase-its-business-by-54-this-year/#respond Sun, 28 Oct 2018 16:34:51 +0000 https://www.dailynewsegypt.com/?p=679362 Fayez Diab, the chairperson of the company, said that his company has managed to increase the rates of its business during the first half of this year despite the decline in agricultural exports during the same period.

The post Omega Shipping seeks to increase its business by 54% this year appeared first on Daily News Egypt.

]]>
Omega Shipping company for international cargo aims to increase the volume of its business by 54% this year, as a result of the improvement of services on all marine lines to all countries of the world.

Fayez Diab, the chairperson of the company, said that his company has managed to increase the rates of its business during the first half of this year despite the decline in agricultural exports during the same period.

He pointed out that the company has managed to attract new customers to the markets of Russia, Europe, and East Asia, which eventually managed to increase the growth of its business. It is currently seeking to achieve a 54% growth by the end of this year.

He stressed the importance of participating in specialised international exhibitions, whether for shipping companies or exports, because they provide a change to meet new customers in these markets, such as the market of Russia, which consumes large amounts of agricultural products and accommodate even larger amounts and the Egyptian product has a competitive advantage and a good reputation in that market.

He attributed the decline of agricultural products exports during the first half of 2018 to the poor production of summer crops, especially fruits, attributing the growth of the company’s business to developing its services and following up the progress of containers from the moment they leave their place of export to the foreign importer.

Meanwhile, the company provides shipping services to all countries of the world, and mainly relies on land shipping, in conjunction with the inclination of many Egyptian companies to open new markets in the markets of East Asia, Europe, and Latin America, he added, elaborating that the company mainly focuses on shipping agricultural crops in addition to dry products.

He noted that the largest proportion of the company’s business is focused in the markets of Europe, Russia, South East Asia, and Gulf countries. It is available for all countries of the world, especially, with the trade wars and the events happening in the international economy in addition to the change of the export map, all of which pushed the company to look for alternative markets for its products to divide risks between markets.

Regarding the challenges of shipping Egyptian products to the countries of the world, he noted that the increase in internal transport expenditures, as well as shipping, energy and roads are all obstacle before Egyptian exports, especially, that there has been an increase in them over the past three years by more than 100%.

On the other hand, he pointed out the importance of developing the formatting of internal transport and the operations of unloading the trucks that enter ports to help ships exit quickly and make more space for new ships to enter berths instead of causing stacking of vessels. All of this reduces costs, hence, reduces the price of the final product.

He pointed out that companies have faced a major problem in transportation and increase of prices last year as a result of this congestion and the absence of empties to transport containers into ports, in addition to the high cost of transport.

Furtherly, he stressed the importance of coordinating between shipping lines and the port authority to speed up the process of preparing containers and make sure that there are no errors, whereby companies avoid any unpleasant surprises.

  

The post Omega Shipping seeks to increase its business by 54% this year appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/28/omega-shipping-seeks-to-increase-its-business-by-54-this-year/feed/ 0
Greeno establishes factory to prepare fresh, frozen vegetables https://dailynewsegypt.com/2018/10/21/greeno-establishes-factory-to-prepare-fresh-frozen-vegetables/ https://dailynewsegypt.com/2018/10/21/greeno-establishes-factory-to-prepare-fresh-frozen-vegetables/#respond Sun, 21 Oct 2018 13:30:46 +0000 https://www.dailynewsegypt.com/?p=678364 Company exports 60% of production to Europe, US, Canada, Australia, Arab countries

The post Greeno establishes factory to prepare fresh, frozen vegetables appeared first on Daily News Egypt.

]]>
Greeno Food Industries plans to set up a new factory to manufacture and process fresh and frozen vegetables next year, with investments of €5.5m.

Mohsen Abu Dahab, chairperson of Greeno Food Industries, said the new factory’s production capacity will raise the company’s total production to seven tonnes per hour and boost its exports.

Abu Dahab pointed out that Greeno is waiting for approval to construct the factory from the Beheira governorate close to farmlands in order to curb costs and maintain quality.

The company signed contracts for the new production lines, adding that implementation will only take six months, following the approval, he explained.

Greeno is currently establishing its latest production lines to manufacture frozen vegetables with investments worth €3m to boost production, indicated Abu Dahab.

The company manufactures and processes artichokes, strawberries, and fava beans, with plans to manufacture new vegetable varieties next year, including okra, green beans, and jute mallow, as production from the third line begins next year, elaborated Greeno’s chairperson.

Abu Dahab added that the company relies on modern production lines instead of manual packaging, in order to apply international quality standards, as mechanisation will raise the global competitiveness of their products, and stimulate competition with Italy and Spain.

Greeno exports 60% of production to Europe, the US, Canada, Australia, and Arab countries, and offers their products through 2,000 feddan.

The company aims to double its exports by next year, and increase employment opportunities to 400 as the new production line begins, revealed Abu Dahab. The company currently has 450 jobs and 1,000 indirect jobs.

Abu Dahab added that Greeno exported 14,000 tonnes of fresh and frozen vegetables this year, and aims to increase that figure by 30% next year.

The post Greeno establishes factory to prepare fresh, frozen vegetables appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/greeno-establishes-factory-to-prepare-fresh-frozen-vegetables/feed/ 0
50% of Agrofood production is organic, Europe’s weak production strengthens exports: Hegazy https://dailynewsegypt.com/2018/10/21/50-of-agrofood-production-is-organic-europes-weak-production-strengthens-exports-hegazy/ https://dailynewsegypt.com/2018/10/21/50-of-agrofood-production-is-organic-europes-weak-production-strengthens-exports-hegazy/#respond Sun, 21 Oct 2018 12:30:09 +0000 https://www.dailynewsegypt.com/?p=678358 EGP 220m in sales for Agrofood this season

The post 50% of Agrofood production is organic, Europe’s weak production strengthens exports: Hegazy appeared first on Daily News Egypt.

]]>
Agrofood Company achieved sales of EGP 220m this season, compared to EGP 250m last season, marking a 12% decrease.

“Although the volume of exports increased during the current year, the value of products fell at different rates, according to each market and each commodity,” said Salah Hegazy, chairperson of the company.

He explained that Europe’s vegetable production during the last export season in Egypt was good, forcing exporters in Egypt to reduce their prices for competitiveness.

“We expect the opposite int the next export season, especially after the recent climate changes in Europe. These changes impacted the production process in most crops, especially in Russia, which is the most important importer from Egypt,” Hegazy clarified.

The company’s chairperson explained that 50% of the company’s exports are organic crops, and that the company deals with supermarket chains that can provide value-added products.

Agrofood specialises in root crops, mainly potatoes, sweet potatoes, onions, garlic, beets, and carrots, accounting for 70% of the company’s sales.

Moreover, Hegazy indicated that the company’s top export destination is England, which accounts for 60% of the company’s annual exports, followed by Russia with 15%, while the remaining products are directed to the rest of the world’s markets.

The company produces crops according to an agreed programme with foreign importers, he mentioned.

He also added that the foreign market is wide open to Egyptian products. The company exports about 2,500 tonnes of potatoes annually, while orders amounted to about 10,000 tonnes.

The company’s production for the domestic market and exports is from the cultivation of 5,000 feddan, which they aim to double in the coming period to increase annual sales, highlighted Hegazy.

“Egyptian exports have a great development chance, similar to many other world countries, especially the markets of African countries,” explained the chaiperson.

Egyptian products are of global high quality, even against the fierce competition, and despite the rumours about crop quality over the past years, asserted Hegazy.

P.S.: http://www.agrofood.com.eg/

The post 50% of Agrofood production is organic, Europe’s weak production strengthens exports: Hegazy appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/50-of-agrofood-production-is-organic-europes-weak-production-strengthens-exports-hegazy/feed/ 0
Blue Valley eyes 20% increase in exports https://dailynewsegypt.com/2018/10/21/blue-valley-eyes-20-increase-in-exports/ https://dailynewsegypt.com/2018/10/21/blue-valley-eyes-20-increase-in-exports/#respond Sun, 21 Oct 2018 12:00:44 +0000 https://www.dailynewsegypt.com/?p=678353 Company's exports reached EGP 55m last season

The post Blue Valley eyes 20% increase in exports appeared first on Daily News Egypt.

]]>
Blue Valley for agricultural exports aims to increase its exports by 20% next year, by expanding in East Asia and Romania.

Mohamed Abdel Karim, CEO of Blue Valley, said that the company’s exports reached EGP 55m last season, mostly products of orange, grape, strawberry, kabocha, watermelon, carrots and garlic.

He explained that the return last season was less than the previous season, driven by lower prices in global markets.

The company exports its products to 14 countries, including China, India, Malaysia, Singapore, Indonesia, and Taiwan, with plans to enter three new markets in the coming season, such as Italy, along with increasing exports to Romania and Siberia, added the CEO.

Romania has the largest share of the company’s annual exports, followed by Azerbaijan and Bangladesh. The company is studying the diversification of its markets, in parallel with its exports to Russia dropping by 50%.

Abdel Karim indicated that the East Asian market is now the safest market for Egypt, unlike other markets such as Europe.

Egyptian citrus products have a good reputation, and there is a growing demand for them in East Asian markets. This can be used to increase the exports volume in general, and to compensate for the loss that occurred this year in some products, concluded the company’s CEO.

The post Blue Valley eyes 20% increase in exports appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/blue-valley-eyes-20-increase-in-exports/feed/ 0
Egyptian-Dutch Company for Food Industries pursues expansion in Eastern Europe, Africa https://dailynewsegypt.com/2018/10/21/egyptian-dutch-company-for-food-industries-pursues-expansion-in-eastern-europe-africa/ https://dailynewsegypt.com/2018/10/21/egyptian-dutch-company-for-food-industries-pursues-expansion-in-eastern-europe-africa/#respond Sun, 21 Oct 2018 11:00:35 +0000 https://www.dailynewsegypt.com/?p=678346 More attention should be paid to exports to increase foreign currency income

The post Egyptian-Dutch Company for Food Industries pursues expansion in Eastern Europe, Africa appeared first on Daily News Egypt.

]]>
The Egyptian-Dutch Company for Food Industries pursuing expanding in Eastern Europe and Africa through its exports of nine major products.

Saed Shaalan, chairperson of the company, said that they allocate 70% of exports to Eastern Europe, while Europe, Africa, and Palestine account for the remaining 30%.

The company exports nine main products: sugar, beans, spinach, chili, parsley, fennel, halawa, tahini, olives, and jams.

The current year’s results are good at the level of exports, and are expected to exceed last year’s results, which amounted to EGP 20m.

Shaalan pointed out the importance of tightening measures over Egyptian exports in the coming period, especially as some companies are misbehaving, which is harming the reputation of Egyptian industries, hence reducing the results of the overarching business targets in general.

International exhibitions are of significant importance for Egyptian products, in order to introduce them to customers abroad, but it is facing a problem which is the lack of interest from Egyptian embassies abroad, who frequently do not attend the exhibitions, therefore downscaling the expected outcome, revealed the company chairperson.

He also pointed out that Egyptian exports were affected by internal and external factors, including sudden economic changes, which affect production expenses, including the demand volume for goods in foreign markets.

Increased external supply and domestic production expenses add financial burdens on companies, which causes the profit reductions and an inability to marketing the products, and maintain customers, underscored Shaalan.

“Because of this, the market is expecting an increase in white bean exports during the current season, after Argentina, the world’s largest producer, imposed duties on its exports, raising the demand for Egyptian products,” he mentioned.

“Export laws must be changed to keep exports from declining, after the current deteriorating situation exports are facing. Despite the fact that they increased last year, however, the increase was not good enough.”

Exports are an important source of foreign currency income, following the downturn in the capability of other sectors in attracting foreign currency, especially tourism, and more attention should be paid to exports in order to increase the dollar proceeds, concluded Shaalan.

The post Egyptian-Dutch Company for Food Industries pursues expansion in Eastern Europe, Africa appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/egyptian-dutch-company-for-food-industries-pursues-expansion-in-eastern-europe-africa/feed/ 0
Europe golden opportunity for Egyptian food exports https://dailynewsegypt.com/2018/10/21/europe-golden-opportunity-for-egyptian-food-exports/ https://dailynewsegypt.com/2018/10/21/europe-golden-opportunity-for-egyptian-food-exports/#respond Sun, 21 Oct 2018 10:30:00 +0000 https://www.dailynewsegypt.com/?p=678343 Companies seek to increase customers through exhibitions, adherence to specifications

The post Europe golden opportunity for Egyptian food exports appeared first on Daily News Egypt.

]]>
The European market maintains a distinguished position among Egyptian food industry exporters. Despite the harsh competition, it remains one of the most stable markets, and offers the highest prices.

Egyptian companies are interested in increasing their interaction with the European market by expanding their participation in international exhibitions, looking for new customers in countries of the EU, and modernising their machines to comply with European standards.

Wael Sharawy, export manager at Nile Agricultural Ind. Co. (AGA), said that European markets are one of the most important markets that Egypt deals with in the export of food industries.

Egyptian food exports to the European market grew by 12% during the first eight months of this year to reach $265m, compared to $233.2m in the same period last year.

Sharawy explained that the company is working in the production of juices and jams of various kinds, and is pursuing to intensify its presence in the EU market through adherence to its standard specifications.

Mango and guava juices are seeing a clear growth in exports to Europe in the last period, particularly concentrates, pointed out the export manager.

He also said that Europe needs products that are low in sugar, unlike Africa which demands high sugar concentrations, hence the company is developing in order to meet the needs of each market separately.

Sharawy called on the local sector to show more interest in packaging according to European standards, to attract more consumers to domestic products.

Europe is more interested in buying food products which are in glass containers and tetra packs, while most Egyptian products are packaged in plastic materials, he pointed out.

He added that the interest in the packaging sector, the supply of production lines according to market needs through injecting more investments and creating a productive environment, will develop into a strong boost and increase the sector’s exports to Europe.

Countries of the EU are considered promising markets for the development of the sector’s exports, especially products such as frozen vegetables and fruits, dried onions, dried vegetables, seeds and fruity fruits, medicinal and aromatic plants, olives, pickles, fruit preparations, molasses, fruit concentrates, and food salt.

Dalia Nabil, export manager at Alex Frost, added that last year the company exported about 1,600 tonnes of vegetables, mostly frozen artichokes, broccoli, and strawberries.

She said that Europe accounts for a good share of the company’s annual exports, adding that they aim to open new markets there, along with its expansion plans in other markets such as East Asia and Mercosur countries.

Nabil noted that the company is also focusing on Russia, being one of the most prominent markets that receives Egyptian food products and frozen vegetables, elaborating that expanding in foreign countries boosts the reputation of the company’s products.

Rabie Abbas, export manager at Herbs Egypt, said that Europe accounts for 28% of the company’s annual exports.

Abbas explained that the company exports about 2,000 tonnes of herbs per annum, and tries to intensify its presence in Europe, especially in Spain and France.

He indicated the need to pay attention to changing the conditions of agriculture in Egypt in order to reduce production costs, therefore enabling the companies to compete internationally and increase their profits.

Increasing profits reflect on expanding businesses domestically as well as on exports, hence, adding value to the economy, remarked Herbs’ export manager.

Presently, the company is in pursuit of increasing its presence in Europe, by visiting several international exhibitions in the coming years, thus meeting more customers, and increasing the volume of new contracts with existing customers, explained Abbas.

Quotes:

12% increase in Egypt’s exports to EU in 8 months

The post Europe golden opportunity for Egyptian food exports appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/europe-golden-opportunity-for-egyptian-food-exports/feed/ 0
Gouda For Agricultural Products boosts exports 70% in 2018 https://dailynewsegypt.com/2018/10/21/gouda-for-agricultural-products-boosts-exports-70-in-2018/ https://dailynewsegypt.com/2018/10/21/gouda-for-agricultural-products-boosts-exports-70-in-2018/#respond Sun, 21 Oct 2018 10:00:03 +0000 https://www.dailynewsegypt.com/?p=678341 Company aims to enter new markets including Korea, Philippines, Canada, says chairperson

The post Gouda For Agricultural Products boosts exports 70% in 2018 appeared first on Daily News Egypt.

]]>
Gouda For Agricultural Products (Ezz El-Din Gouda) increased its exports of vegetables and fruits to 65,000 tonnes this year, up from 38,000 tonnes in 2017, marking an increase of 70%.

Hassan El- Elbeshbeshy, chairperson of the company, said that they aim to raise exports by 25% next year, and to enter new markets in Korea, the Philippines and Canada, increasing the number of import countries to 32.

East Asia accounted for 45% of the company’s exports. The company additionally  aims to increase its exports to China, Hong Kong, and Malaysia.

Egypt has succeeded in negotiating the protocol of cooperation with Korea, and is in the final stage to allow imports from Egypt.

Elbeshbeshy confirmed that the company was able to export to China six years ago, and was among the first five companies to export oranges there. The company exported 150 containers last season.

Gouda focuses on major countries in East Asia such as China, Hong Kong, Malaysia, Bangladesh, and India all of which import huge quantities of onions.

El-Beshbeshy suggested the possibility of exporting pomegranates to China, and expected to have a competitive advantage in the coming period.

Europe is the third biggest market for Gouda, especially in terms of citrus products, potatoes, lettuce, and onions. The most prominent European importers are Netherlands, Germany, and England.

The company was among the top 10 exporters of agricultural crops last year, entering into new markets such as Greece, Hungary, and Australia.

Orange accounted for the largest proportion of the company’s exports to the Australian market with about 11 containers, but quantities are limited due to the length and distance of over 40 days by sea.

He added that the company’s exports to Arab countries amount to between 5% and 10% of total exports, which declined last year as some countries banned the entry of Egyptian products, such as the UAE, Saudi Arabia, Oman, Jordan, Kuwait, and Lebanon.

Gouda has succeeded in entering African markets, and exporting to various countries such as South Africa, Uganda, and Tanzania, however, the quantities were limited, which does not fully exploit the potential in these markets.

The post Gouda For Agricultural Products boosts exports 70% in 2018 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/gouda-for-agricultural-products-boosts-exports-70-in-2018/feed/ 0
Orient Group achieves $30m exports 8 months: chairperson https://dailynewsegypt.com/2018/10/21/orient-group-achieves-30m-exports-8-months-chairperson/ https://dailynewsegypt.com/2018/10/21/orient-group-achieves-30m-exports-8-months-chairperson/#respond Sun, 21 Oct 2018 09:30:48 +0000 https://www.dailynewsegypt.com/?p=678331 Company directs 80% of its production to local market, 20% for exports, says Al-Masri

The post Orient Group achieves $30m exports 8 months: chairperson appeared first on Daily News Egypt.

]]>
Hisham Al-Masri, the chairperson of Orient Group’s Board of Directors, said the company had achieved $30m in exports during the first eight months of 2018, and exports are expected to rise to $42m before the end of the year, compared to $35.5m last year.

Furthermore, Orient Group aims to increase its exports by 18% this year by expanding into new markets in East Asia.

Al-Masri emphasised the company’s efforts to strengthen its presence in East Asia, especially Indonesia, Singapore, Thailand, Vietnam, China, and South Korea.

He explained that East Asian countries’ main imports are; dates, oil crops, and spices, adding that agricultural crops also have a good opportunity there.

Orient Group owns two factories for date manufacturing and packaging with a capacity of 50,000 tonnes, however actual current production capacity currently is below 20%, remarked Al-Masri.

Moreover,  the company’s chairperson added that the company is considering importing dates for domestic packaging, followed by re-export, despite the high import expenses.

The company directs 80% of its production to the local market and 20% for exports, he indicated.

Orient Group’s main markets are East Asia, Russia, South Africa, Eastern Europe, and Arab markets, led by Syria, Palestine, Iraq, and Yemen.

Al-Masri praised the new export system approved by the Ministry of Agriculture and considered it as a good step to improve the Egyptian producer’s reputation.

The Ministries of Industry and Agriculture announced the system of encoding agricultural crops for export and included grapes, guava, pomegranate, and pepper.

The system aims to raise the amounts of Egyptian crops in the markets they target, by adhering to the quality factors and specifications required in each market.

Orient Group is an Egyptian joint stock company, founded in 2004 in Alexandria, and serves as a major player in the import and export of a wide range of agricultural food products, finished goods, and raw materials.

The company has expanded to 25 countries around the world, and established liaison offices and subsidiaries in the US, Europe, the Middle East, North Africa, Southeast Asia as well as South Africa.

The post Orient Group achieves $30m exports 8 months: chairperson appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/orient-group-achieves-30m-exports-8-months-chairperson/feed/ 0
Whiteland sales expected to score EGP 290m https://dailynewsegypt.com/2018/10/21/whiteland-sales-expected-to-score-egp-290m/ https://dailynewsegypt.com/2018/10/21/whiteland-sales-expected-to-score-egp-290m/#respond Sun, 21 Oct 2018 08:30:33 +0000 https://www.dailynewsegypt.com/?p=678327 Company invested EGP 15m to boost production to 31,000 tonnes, says Al-Mashhad

The post Whiteland sales expected to score EGP 290m appeared first on Daily News Egypt.

]]>
Whiteland Food Industries’ sales is expected to rise up to EGP 290m by the end of this year, down from EGP 295m last year.

Said Al-Mashhad, chairperson of the company, said they will not be able to achieve the targets of the current year on the sales level, driven by lower sales in the local market so as to increase exports.

The company has been attempting to achieve a 25% sales increase during the current year, up to EGP 369m.

Al-Mashhad explained that the company has increased export allocations from its production to 45%, compared to 35% last year, and reduced the proportion of products in the domestic market from 65 to 55% in 2017.

Sales in the local market are becoming increasingly difficult, as the financial burden on citizens has increased across all products and services, he indicated.

Whiteland Food Industries witnessed weak sales growth in the domestic market in 2018, ranging only from 10 to 12%, down from an average of 30%.

The size of the company’s production in 2016 did not exceed 17,000 tonnes, where the company invested EGP 15m to boost production to 31,000 tonnes, Al-Mashhad mentioned.

He added that the company was able to sign new contracts in the East Asian markets during the current year, most notably Pakistan and Thailand, which has supported the increase in exports, as well as the expansion of markets which it used to export to in recent years.

Whiteland exported to about 12 different Arab countries, the most important of which are Saudi Arabia with about 12% of the total exports, followed by Iraq, Kuwait, Lebanon, and Jordan.

Al-Mashhad highlighted a change in the company’s export map in 2018, with Saudi Arabia ranking first in the list of customers instead of Iraq last year, after the drop in orders by the latter following the 45% fee imposed on Egyptian cheese.

The post Whiteland sales expected to score EGP 290m appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/whiteland-sales-expected-to-score-egp-290m/feed/ 0
Green Fields exports register $4.2m in 9 months https://dailynewsegypt.com/2018/10/21/green-fields-exports-register-4-2m-in-9-months/ https://dailynewsegypt.com/2018/10/21/green-fields-exports-register-4-2m-in-9-months/#respond Sun, 21 Oct 2018 08:00:09 +0000 https://www.dailynewsegypt.com/?p=678321 Exports account for 40% of company's annual production

The post Green Fields exports register $4.2m in 9 months appeared first on Daily News Egypt.

]]>
Green Fields’s exports amounted to $4.2m in the first nine months of this year. The company aims to increase its exports in the coming period, and enter new markets in North Africa.

Maher Muharram, the company’s export manager, said they plan to boost exports to $6m by the end of this year.

He added that the company has recently carried out expansions in some of its production lines such as a production line of processed cheese, in order to raise monthly production capacity from 300 tonnes to 400 tonnes.

Green Fields also expanded in cream cheese production lines for smaller packages, ranging from 100 to 200 gm, apart from to the large 6 kg containers. The company set up a new production line for mozzarella cheese, with a monthly capacity of 200 tonnes.

Muharram explained that the company exports its products to the Gulf, including Saudi Arabia, Kuwait, Bahrain, Iraq, Yemen, and Libya, as well as a few African countries such as Angola, noting that exports account for 40% of the company’s annual production.

The company aims to expand its exports in North and East African countries, and resume its exports to the Jordanian market, following last year’s suspension due to the new specifications that Jordan set, which required printing on packages. 

Green Fields has five production lines for cheese with a monthly capacity of 600 tonnes, along with a a monthly production line of 500 tonnes of white cheese.

Moreover, the company has a monthly 600 tonnes cream cheese production line, a monthly packaging line of 700 tonnes and the production line of mozzarella cheese.

Muharram stressed the importance of attending international exhibitions, and said that the company looks forward to participating in major exhibitions, including the Sial, Anuga, and Gulfood exhibits.

He also indicated the company’s enthusiasm to expand in foreign markets, either through exhibitions or through promotional missions carried out by export councils.

Muharram demanded that the Export Development Authority increase its support to other exhibitions, and not limit its support towards major exhibitions. There are exhibitions in other countries such as Africa, where the exporter bears the participation’s full expenses.

Participation in promotional missions allows export companies to identify foreign markets, competitors, and competing products in these countries in order to support the development of domestic production export companies, concluded Muharram.

The post Green Fields exports register $4.2m in 9 months appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/green-fields-exports-register-4-2m-in-9-months/feed/ 0
EGAST eyes 30% growth in sales to Europe this season https://dailynewsegypt.com/2018/10/21/egast-eyes-30-growth-in-sales-to-europe-this-season/ https://dailynewsegypt.com/2018/10/21/egast-eyes-30-growth-in-sales-to-europe-this-season/#respond Sun, 21 Oct 2018 07:30:36 +0000 https://www.dailynewsegypt.com/?p=678324 Company invested EGP 250m for packhouses, cold stores, with 300 tonnes daily capacity, to propel exports worldwide

The post EGAST eyes 30% growth in sales to Europe this season appeared first on Daily News Egypt.

]]>
EGAST for agricultural crops is aiming to increase its sales to Europe this season by 30%, up from 1,500 tonnes in the last season. The company’s exports to the rest of the world amounted to 80,000 tonnes.

According to Mohamed Deghedy, EGAST export manager, the European market for fresh fruits and vegetables is a target market for Egyptian suppliers, based on high popularity and high demand, as well as the premium prices. However, it is a very mature market that is well controlled by legislation and certificates, according to the company.

“For our group of companies “EGAST”, we have been in the EU market for numerous years supplying its various countries with our choice fruits and vegetables. EGAST supplied about 15,000 tonnes last season to Greece, Holland, Italy and Poland, who received potatoes, onions, and oranges. In addition, our exports to the Asian market, Russia, Fareast, and Arab counties were estimated at 80,000 tonnes, and we plan to increase our volume by 30% especially to the EU market during the coming season 2018/19,” said the company’s export manager.

For this purpose, EGAST is expanding its factory, as they planted 2,500 feddan for citrus varieties valencia oranges, Murcott mandarin–sweet orange hybrid, and lemons. They also increased the planted area for potatoes to 14,000 feddans, all in the most appropriate soil for each product, to guarantee perfect production and quality, indicated Deghedy.

This comes is in addition to EGAST’s new investment of EGP 250m for citrus packhouses and cold stores, with a daily capacity of 300 tonnes as a priority, which will propel the company’s exports worldwide, according to EGAST’s export manager.

EGAST participate in the Madrid exhibition, as they believe in the positive role of exhibitions, and B2B meetings, which promote and market the company’s, concluded Deghedy.

The post EGAST eyes 30% growth in sales to Europe this season appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/21/egast-eyes-30-growth-in-sales-to-europe-this-season/feed/ 0
Exports reached $1.88bn in 8 months, says food export council https://dailynewsegypt.com/2018/10/18/exports-reached-1-88bn-in-8-months-says-food-export-council/ https://dailynewsegypt.com/2018/10/18/exports-reached-1-88bn-in-8-months-says-food-export-council/#respond Thu, 18 Oct 2018 14:00:02 +0000 https://www.dailynewsegypt.com/?p=678125 Food exports to Europe market grew by 12% from January to August 2018, recording $265m

The post Exports reached $1.88bn in 8 months, says food export council appeared first on Daily News Egypt.

]]>
Exports of food industries during the first eight months of this year reached about $1.88bn, 53% of which went to Arab countries.

Manar Nasr, CEO of the Food Export Council, said that the council regularly identifies the most important target markets, which will increase the exports of the sector, and coordinate with the commercial representation offices to identify the most important specialised exhibitions that can be included in the council’s plans.

She added that the council also provides training courses for member companies, in cooperation with the German-Arab Chamber of Industry and Commerce, and the various export councils, to identify the successful participation in international exhibitions, in terms of selecting the appropriate exhibitions, how to choose the products to be displayed, and factors affecting the exhibition’s success.

She noted that in parallel with participation in international exhibitions, the council has several promotional missions, and receives delegations from different countries. It is currently studying promotional missions to 10 countries in Africa, Asia, Latin America, Uganda, Rwanda, Cote d’Ivoire, Senegal, Brazil, Morocco, Malaysia, Indonesia, Poland, and Kenya.

The Council also received delegations from Iraq’s Kurdistan, Libya, Yemen, Lebanon, and Kenya this month, and bilateral meetings were held for representatives of those delegations at the headquarters of the Food Export Council with companies engaged in products of interest to importers.

The exports of the Egyptian food industry during the period from January to August 2018 amounted to about $1.88bn, the Arab countries accounted for the largest share of them at about 53% of total exports, followed by European countries by about 14%.

Saudi Arabia is the world’s largest importer of Egyptian food products during the first eight months of 2018 with a value of $192m, followed by Libya with $118m.

She stressed that the council aims to expand in a number of current markets, and enter new markets during the coming period, most notably England, America, Holland, Poland, Germany, Yemen, Brazil, South Africa, Australia, Russia, Kazakhstan, Eritrea, Indonesia, Malaysia, Spain, South Korea, Syria, and Jordan.

Exports of cola concentrates came in first place in the list of products at about $236m followed by sugar and frozen vegetables, excluding strawberries and cheese.

This year, 82 Egyptian food companies are taking part in the Sial Paris exhibition, on an area of 1,300 sqm, divided into four showrooms.

Nasr said that Egyptian participation varies between the food industry and agricultural products of frozen and dried vegetables and fruits, and products from various food preparations such as baked goods, breakfast cereals, juices and concentrates, pickled olives, olive oil, tomato sauce, desserts, dairy products, and other products.

She stressed that the Sial exhibition is one of the most important exhibitions in the field of food products, which deals with business activities, imports and exports, finding the right source, selecting the right investor, or the food service companiy, as well as the exchange of mutual interest in food.

France is the fifth largest importer in the European Union for food industries from Egypt, as food exports to the French market have achieved a growth rate of 30% last year.

The Food Export Council, in cooperation with the Commercial Representation Office in Paris, promoted Egyptian companies involved with their French counterpart. Several major importers were also invited to visit the Egyptian pavilion during the exhibition.

Food exports to the European market grew by 12% during the period from January to August 2018, recording $265m.

Spain is the fourth largest importer of Egyptian food products during the same period, with a value of $30m, followed by France with $23m.

The European market is a promising market for the sector’s exports, especially for products such as frozen vegetables and fruits, dried onions and dried vegetables, seeds and fruiting, medicinal and aromatic plants, aromatic olives, pickles, fruit concentrates, molasses, and salt.

Nasr said the council includes 400 companies that account for 90% of the sector’s exports, while about 3,000 companies export food products.

The post Exports reached $1.88bn in 8 months, says food export council appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/18/exports-reached-1-88bn-in-8-months-says-food-export-council/feed/ 0
Daltex target 15% increase in exports this season https://dailynewsegypt.com/2018/10/18/daltex-eyes-15-increase-in-exports-this-season/ https://dailynewsegypt.com/2018/10/18/daltex-eyes-15-increase-in-exports-this-season/#respond Thu, 18 Oct 2018 13:00:22 +0000 https://www.dailynewsegypt.com/?p=678110 Export from oasis farm to begin this year, European market most attractive for exporters, says Tawfik

The post Daltex target 15% increase in exports this season appeared first on Daily News Egypt.

]]>
Export from oasis farm to commence this year, European market most attractive for exporters, says Tawfik

El Wadi For Agricultural Development & Land Reclamation (Daltex) aims to achieve a 15% growth in exports this season by expanding it’s current exisiting markets and invading new ones.

The company’s Commercial Director, Ahmed Tawfik, said they will begin exporting potatoes from the oasis farm this season, after cultivating 5,000 – 7,000 feddan from 20,0000 feddan obtained by the company last year.

He pointed out that the company is exporting a number of products, mainly potatoes and citrus, accounting for 70% of Daltex’s exports.

In European markets, Tawfik he said that it is the most important for agricultural crops, due to several factors such as its proximity, stable prices, and guaranteed payment.

The European market is not difficult, but it needs an exporter who is committed to specifications and delivery dates, stressed Tawfik.

He also pointed out that the company utilize their external offices, half of them in Europe, which contribute to exporting 70% of the company’s products.

The commitment of exporters in Egypt to the specifications and supply schedule required by Europe stimulates the latter to buy products at good prices, but in some seasons where the supply is more than the demand, Egyptian growers are forced in exporting larger quantities than needed, which cuts prices, added the company’s commercial director.

He stressed that communication with the importers is the key to success on all aspects of the operational and logistical process, if exporters cannot supply according to the agreed schedule, then alternatives must be given to maintain confidence.

One of the most important advantages of the European market is the stability of supply and in general the price agreements so the exporter could estimate the returns upon loading with little variances between 5-10% , adding that the company supplies to most major retailers globally in different continents, mentioned Tawfik.

Additionally, he also pointed out that markets such as the Gulf area, Lebanon, Greece, and Russia are operating based upon weekly agreements, unlike some the European/Asian markets, which are still new and can absorb larger quantities of Egyptian products.

Egyptian companies started to export to the Chinese market directly only three seasons ago, despite having a cooperation protocol between both parties 12 years ago which was just set and ready lately, the Chinese market needs good understanding of the consumer behaviour and quality is the main target to succeed in the Chinese market, protocols must be followed, noted the commercial director.

Furthermore, Egyptian companies began providing products according to the required specifications by the Chinese market, especially citrus, which increased to 120,000 tonnes from 5,000 tonnes two years ago, he added.

Citrus exports season top the list of Egyptian agricultural exports in volume exceeding 1.5m tonnes, ranking second only after Spain in 2017.

Tawfik stressed the need to face the phenomenon of decreasing prices by some Egyptian exporters to export large quantities at lower prices, which affects the reputation of Egyptian products, and makes them cheaper than their actual value.

He indicated that the main reason for this phenomenon is the problem facing companies in marketing their products, and here, the state must provide more support through commercial representation offices abroad.

The post Daltex target 15% increase in exports this season appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/18/daltex-eyes-15-increase-in-exports-this-season/feed/ 0
Herbs Egypt exports 2,200 tonnes per year https://dailynewsegypt.com/2018/10/18/herbs-egypt-exports-2200-tonnes-per-year/ https://dailynewsegypt.com/2018/10/18/herbs-egypt-exports-2200-tonnes-per-year/#respond Thu, 18 Oct 2018 12:30:16 +0000 https://www.dailynewsegypt.com/?p=678107 Equipment to be changed in H2 2019: Abbas

The post Herbs Egypt exports 2,200 tonnes per year appeared first on Daily News Egypt.

]]>
Herbs Egypt exports 100% of its production abroad, said Rabie Abbas, export director, adding that that the company exports 10 types of dried herbs.

The company, Abbas said, plans to change its equipment in the second half (H2) of 2019.

He explained that the production volume ranges from 1,600 to 2,200 tonnes per year, all of which is channelled to Latin America, European countries, and some Arab states.

Abbas pointed out that his company targets all European countries, Africa, and Arab countries through their participation in the new edition of the Sial exhibition.

The company is planting a number of crops, both in its land or through leasing others’ lands, and is plans to expand in the agriculture process, said the export director.

Abbas elaborated further, saying that the company plans to change its plant machinery during H2 of 2019.

He pointed out that there are several challenges facing the company, the most important of which are some defects in the local agriculture operations and production chains, as well as packaging and transport.

International exhibitions are an important opportunity for local companies, as they help them to be directly present with those who want to buy without effort, he highlighted.

Abbas stressed the importance of exhibitions for the state, as it aims to earn more foreign currency and should support the export sector and make it a priority, by encouraging companies to participate in exhibitions as they are the only outlet for them to introduce themselves to the world.

He called for the need to support exhibitions, as well as supporting local industries by introducing the Egyptian pavilion.

Abbas said that the Sial exhibition is the second largest in the world after the Anuga in Germany.

The post Herbs Egypt exports 2,200 tonnes per year appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2018/10/18/herbs-egypt-exports-2200-tonnes-per-year/feed/ 0