Egyptian ready-made garments to Britain up by 2.3 % in 2000
"Exports of the Egyptian ready-made garments to Britain increased in the year 2000 by 2.3 % compared to the year 1996," according to a recent report by the Trade Representation Office in London.
The report indicated that exports of ladies garments to Britain increased to 79.2 million Pound Sterling in the year 2000 against 25.5 million Pound Sterling in 1996.
The report stressed the necessity of having closer contacts between Egyptian exporters and British importers so that they can discuss ways of furthering Egyptian exports to the British market.
Minister Plenipotentiary at the London Trade Representation Office Ihab Zeidan held that Egyptian garment exports to Britain although showing a marked progress yet, they are still exposed to fierce competition from other countries investing in the British market.
He proposed that Egyptian exporters should offer their products at lower prices so that they could enjoy a more competitive status. Zeidan further underlined the necessity that Egyptian exporters get acquainted with British tastes and the volume of the market there so that they can be kept posted with the recent developments there. 'The volume of British garments market hit 30 billion Pound Sterling in the year 2000,' said the report.
The trade balance between Egypt and Britain reached 926 million Pound Sterling in year 2000 of which 426 million Pound Sterling are for Egyptian exports.
The deficit of bilateral trade balance decreased to 74 million Pound Sterling, according to a source at the British Embassy in Cairo.
On the other hand, a British delegation led by Lord Paul of Marylebone, Ambassador for British Business visited Egypt recently for talks on means of increasing British investments in Egypt.
The British delegation had talks with Port Said Governor Moustafa Kamel on the British contributions to updating Port Said Containers Harbours.
The delegation grouped leading British businessmen investing in the domains of heavy industries including steel manufacturing, motor vehicles and electronics.