Egyptian made clothes is facing a price war in the global market

Experts warn from the decrease in demand for Egyptian made clothes in the global market due to the price war initiated by China and other Asian countries. The global market is facing many changes that will affect future Egyptian exports.

Signing the “QIZ Protocol” with the United States decreases the prices of the Egyptian made clothes to the US market by 8% to 30%. This is not enough, and Egypt has to take additional actions including the revision of financing policies and ways of granting loans, which have very unfavorable conditions in Egypt, compared with other competing countries in the global market.

During the last year Egypt exports from fibers and clothes reached approximately 1.3 billion US Dollar. The US market consumed 40%, Europe consumed 38% and 22% were exported to other destinations.