A new strategy for increasing Egyptian exports

The Egyptian Ministry of Economy has just finished preparing a new strategy for increasing Egyptian exports. The new strategy includes a new scheme of policies for activating the process of exportation according to a definite schedule and goals implemented by parties concerned.

Youssef Ghali, Minister of Economy, announced that exportation would be the first goal for the Egyptian economy where its activities would be linked with world markets.

The minister also hinted at the fact that the second goal is to make exportation a source of attraction for foreign investors as Egypt offers them wide chances and privileges.

The third goal is to vary Egyptian exports in regard to the importing countries or the exported commodities and thus improve the horizons of our national economy.

The fourth goal is to consider exportation as a base for technological development of the national economy through modern inventions and trained personnel.

Ghali also asserted that a number of industries will be developed such as weaving and spinning, tapestry, clothes, food processing, building materials, iron and steel, chemical industries and pharmaceutical industries.

As for foreign markets, the minister stressed that focus will be on four major markets: the European Union, the United States, North Africa and Southeast Asia.

He also stated that efforts would be exerted to increase the rate of export to 25% annually. Such a percentage will be a great stride.