Export Rates to be Increased & Imports to be Cut Down

Minister of Industry and Foreign Trade Mahmoud Eissa has asserted, during his meeting with the ministry's top officials on 3/3/2012, that the ministry is committed to removing all obstacles facing industry development and export to create an atmosphere attracting to industry and trade investments.The minister added that the preliminary indicators show a modest increase in economic growth rate, which is a good indicator in the current circumstances.

The ministry's priorities include solving the problems of faltering factories that have stopped working due to financial problems and talks are currently being held with the Central Bank of Egypt and the banking authority to follow up solving these problems, Eissa continued. He also pointed that the meeting included issues like supporting small and medium enterprises and expanding the establishment of industrial complexes in various governorates, which will provide job opportunities that will contribute in solving unemployment problem.

Regarding the Ministry's vision towards developing the foreign trade array, Minister Eissa said that his Ministry is earnestly endeavoring to improve Egypt's balance of trade with the varied world countries. This will be carried out through increasing the exports. Dr. Eissa assured that the ministry was keen to maintain continuity of propping up the export sector programs.