Egypt: Africa Markets Golden Opportunity for Small, Medium ExportsSource: www.export-egypt.com 2/20/2016, Location: Africa |
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Finance Minister Hani Demian said Egyptian exports have a great opportunity to tap the African market which has a large population.
In statements to MENA on the fringe of the African Business Forum, Demian said Egypt's joining the African economic blocs would open up a vast space for exportation of Egyptian exports in view of big facilities of customs, taxes and easy transportation. Small and medium-scale industries have a "golden opportunity" to tap the African markets, thanks to great efforts exerted by Egypt to enlarge the scope of cooperation with various African countries. The Minister also pressed the need for the private sector, industrial and trade unions to beef up their ties with African countries. Demian also cited the Egyptian government signing a trade agreement to facilitate access of Egyptian products to African markets, including Kenya and others. Commenting on the value added tax law, the minister said there is a tendency towards amending such law at the current time, noting that studies which referred to a skyrocketing increase in prices as a result of such law were "untrue". The Minister asserted that rise in prices of some commodities would not exceed 1.5 percent only. |
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