Back to the complete issue
Tuesday, 18 April 2017

WTO completes review of Egypt’s trading practices

The World Trade Organization hascompleted its review on Egypt’s trade policies and had very nice things to say about them apparently, according to statements attributed to the WTO delegation by Al Shorouk. The delegation was apparently impressed by the government’s efforts to revamp its trade policies and its “2020 export strategy.” They noted the level of cooperation which they said had facilitated future policy reviews. The platitudes-ridden statement does not provide concrete opinions on specific policy which have been brought to the WTO, including the exporters registry and (possibly) the automotive directive which has upset European manufacturers.

This comes as six major export councils have formulates their collective strategy for boosting Egypt’s non-oil exports to USD 34 bn by 2020, Al Borsa reports. Targets set by the strategy include raising construction materials exports 145% from their 2015 levels to USD 7.7 bn, increasing petrochemicals exports to USD 6.6 bn, up 124%, and food industries to USD 4.6 bn, a jump of 76%. Among the challenges they name to reach these targets are high electricity and gas prices for industry, weak logistical capabilities, especially when exporting to west Africa. Financing was also named as a challenge, stating that EGP 20 bn in funding are needed and should be offered at 10% interest to factories that are exporting. The councils will discuss their strategy with Kabil soon.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.