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Wednesday, 31 May 2017

Trade Ministry to implement new strategy to boost exports

The Trade Ministry is rolling out its new export promotion strategy, Trade Minister Tarek Kabil said on Tuesday, according to Al Borsa. The strategy will be administered primarily through the newly-established Export Development Authority (EDA) and will include four primary pillars, the minister said. These include:

  • Cutting down on red tape and paperwork through a one-stop-shop policy;
  • Improving the quality of exports;
  • Launching an export-promotion portal;
  • Encouraging exporters to participate in international fairs and expos.

Target geographies include Europe (a traditional export destination) as well as newmarkets in West Africa and South America, the minister suggested, which will be served by new shipping lanes and logistics centers. Industrial training programs will be a key component of the quality improvement drive, he added. Kabil has also noted East Africa as a key target market in other recent remarks.

The EDA met with export councils and business associations in recent weeks to learn more about the challenges they face with exports and find solutions, EDA chief Sherine El Shorbagy said. Six major export councils had said back in April that they were formulating a collective strategy to improve Egypt’s non-oil exports by 2020.

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