Gov't offers grants to boost export operations

The Egyptian government offered exporters grants of LE106 million last year to support their export operations, Minister of Foreign Trade Youssef Boutros Ghali said yesterday.

He added that the government's support is part of its international commitment to the WTO. This financial support covered all export sectors, especially textiles, explained Boutros Ghali.

Addressing a meeting of the Upholstery Council, the top foreign trade official said that his Ministry is planning to launch a media campaign in Europe and the United States for products that are made totally from cotton.

"Our biggest export sector is textiles, estimated at US$1.5bn annually," Boutros Ghali explained.

"Producers who export 51 per cent of their total production will have their sales tax refunded before exporting their goods," the minister added, stressing that this incentive is meant to boost Egyptian exports.