Rasheed Mohamed Rasheed: Plan drawn up to raise textiles exports to $5 billion annually

The government is embarking on a plan to increase textile exports by a value of $5 billion every year, starting from 2010, an Egyptian minister said yesterday.

"We currently raise our textile export by $l billion annually," said Minister of Industry and Foreign Trade, Rasheed Mohamed Rasheed.

Speaking after a meeting with textile and ready-made clothes manufacturers yesterday, Rasheed added: "This is part of a comprehensive strategy aimed at upgrading the textile industry and increasing the number of workers."

ÊÊÊ Rasheed explained that the government considers increasing the production of cotton and installing effective pricing and marketing mechanisms as its top priorities.