Sisi Urges more Efforts to Rationalize Imports, Increase ExportsSource: www.export-egypt.com 6/28/2016, Location: Africa |
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 President Abdel Fattah El Sisi urged more measures to rationalize imports and increase exports.
At a meeting with Prime Minister Sherif Ismail and Trade and Industry Minister Tarek Kabil, Sisi called for supporting local products and the Egyptian industry, which will contribute to providing more job opportunities and upgrading the quality of industry. During the meeting with the President, the trade and industry minister reviewed the ministry’s efforts in the file of foreign trade and industry development, especially in terms of rationalizing imports and increasing exports as a national goal sought by the State, presidential spokesman Alaa Youssef said. The imports decreased by 4.52 billion dollars during the period from January to April 2016 while the exports increased by 260 million dollars during the period from January to May 2016, Kabil said, adding that the Egyptian exports successively increased during the past four months after a decline for 15 months. The Minister pointed to a campaign to promote the Egyptian products, which is aimed to encourage citizens to buy the local products in support for the national industry and economy. Also, the minister reviewed ongoing efforts to establish a furniture city in Damietta and a leather city in Roubiki, according to the presidential spokesman. "A company to manage the furniture city has been incorporated as well as a technology center to prepare marketing studies for the furniture manufacturers," the minister pointed out. "The first stage of Roubiki Leather City will be completed in July," he said, adding that the city will have positive impact at the environmental, social and economic levels as all tanneries will be relocated from Old Cairo to the new city. The meeting also took up a strategy to develop the auto industry and its feeding industries and reviewed the gains that will be achieved from the expansion in making auto components. The President has ordered to complete all necessary studies in this regard, the spokesman said. The industry minister also presented a timetable to provide lands to establish industrial zones. A one million square meter land has been offered in the industrial zone in Badr city. |
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