Reactivating the Egyptian market
Egypt, Economics, 11/7/2001

The supreme ministerial committee for reactivating Egyptian market, headed by Deputy PM and minister of agriculture and land reclamation Youssef Wali reviewed the work paper prepared by the Federation of Egyptian Industries on the problems facing Egyptian industries and the four suggestions for getting out from the stagnation that followed September 11th incidents in the USA.

The work paper suggested reducing interests on loans offered for industrial projects that reach 18%, rationalizing the importation of unnecessary commodities through using the mechanisms of the WTO, studying the use of the Offset system for cutting down imports from certain countries and studying consumer funding via banks.

On his part, minister of industry and technological development, Musytafa el-Refaei said that the government today is more aware of the problems and the crucial circumstances facing Egyptian industry, adding that the Committee has all capacities for taking all convenient measures for reactivating the Egyptian market. This includes preparing relevant reports to be submitted to PM Atif Ebeid.

The minister added that there would be measures for facing illegal trafficking. This is in addition to reducing interest on and rescheduling loans and confronting substandard industries.

Previous Stories:
  GAFI gives green light to 4 new free zone projects   (11/6/2001)
  Free trade agreement opens fresh vistas for Egyptian-US ties   (11/6/2001)
  Gov't adopts package of measures to face up adverse effects of September 11 events   (11/6/2001)

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