One million feddans dedicated to raise exports to $ 5 billion

Egypt's Minister of Foreign Trade and Industry Rasheed Mohamed Rasheed said on Monday that Dr. Nazif Government is studying plans to dedicate about one million feddans whose crops will be exported in a bid to raise the agricultural products exports to $ 5 billion a year.

Rasheed unveiled plans to boost industrial production and exports. The minister spoke about plans to set up regional economic business councils that will promote Egyptian goods in specific areas of the world.

These councils would work alongside the existing commodities councils, whose task is to promote exports for specific sectors, such as agriculture, textiles and foodstuffs, Rasheed said during a meeting with economic editors.

Rasheed said that the new councils would conduct studies and make projections for the main trading zones of the US, China, the Indian sub-continent and the Middle East.

"The Export Support Fund would finance these studies," he said.