Services sector has a prominent role in upgrading exports

Egyptian Minister of Economy and Foreign Trade Youssef Boutros Ghali said the government pays great attention to developing the services sector so as to be enable it play a more effective role in activating Egypt's exports in the coming period.

The services sector does not need large capital investments such as lands or industrial installations, a matter which facilitates tapping this field by young investors, Ghali added.

Ghali said there are great opportunities available for Egypt's services exports to the Arab and developing countries either through the conventional payment methods or through barter deals.

Ghali added that services exports are closely related with increasing commodity exports that contain at least 30 per cent of services such as designing, packing and wrapping, marketing, advertising and transportation.

Medical services also contribute to increasing the sales of pharmaceuticals and medical equipment along with the educational services' role in promoting the sales of books and educational tools.

Ghali also pointed out that Egypt is one of the pioneering countries in adopting the economic open door policy, encouraging investment and surpassing many countries in the realm of tourism, telecommunications and banking activities.