Industry and foreign trade ministeryto focus on increasing exports

Industry and foreign trade ministeryto focus on increasing exports

Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour (Photo Public Domain)

Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour
(Photo Public Domain)

By Doaa Farid

A plan to boost industrial exports to EGP145bn by the end of next year is currently being reviewed by the Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour, according to state-run Al-Ahram.

Abdel Nour said increasing the rate of exports sits at the top of the government’s priorities over the coming period, as exports represent a primary generator of both foreign currency and job opportunities.

The move followed several meetings last week between Abdel Nour and the heads of exports councils, which the minister called “key partners in the implementation of this plan.” The next phase, he said, will witness active participation from council members in export policy-making, given their extensive experience in dealing with foreign markets, reported Al-Ahram.

Ehab Deryas, head of the furniture export council, said the meeting was of a “one way” nature, held by the minister to listen to the problems of each exports council.

Deryas said furniture exports are stable and they are aiming to achieve 10% growth on last year’s EGP 2bn.

Khaled Ibrahim, head of the engineering exports council, said during the meeting the council had submitted their choice of five Arab and African countries on which to focus their exports. Ibrahim said this plan would ensure the increase of exports to EGP 30bn annually within three years, noting the value of engineering exports last year came to EGP 15bn.

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