Trade Minister says looking forward to boosting exports to Europe, AfricaSource: www.export-egypt.com 1/27/2024, Location: Africa |
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Minister of Trade and Industry Ahmed Samir underscored the ministry's keenness to boost exportation to the continents of African and Europe alongside cementing coordination with commercial offices abroad towards achieving a vision mean to develop of Egyptian exports.
He added that such a vision comes in line with directives of the political leadership to increase the volume of exports, strengthen the local manufacturing along with boosting investments in the Egyptian market. The minister made the remarks while inspecting a set of factories operating in the domains of food industries, garments and electric industries at the industrial zone in Obour city to check on the progress of the production rate. The minister visited the factory of T&C Garments, which is built on an area of 70,000 meters, according to a statement issued by the Ministry of Trade. Almost 70 percent of the production of T&C company is exported to the US, while 30 percent of it is exported to Europe, the statement said, adding that the daily production capacity of the factory stands at 60,000 pieces. It noted that the exports of the company hit nearly 120 million dollars in 2023, with expectations that this year's exports would likely reach 155 million dollars. The 50-million-dollar worth company secures 7,000 job opportunities and is currently establishing a solar power plant and water treatment station at a cost of 90 million pounds. The tour also included a visit to Danone Dairy Egypt, which is erected on area of 37,000 meters and comprises eight production lines that secures 3,000 direct and indirect job opportunities. The exports of Danone Dairy Egypt, mainly sent to Libya, Madagascar and Palestine, stood at 64 million pounds in 2024, marking an increase of 112 percent compared with the year 2022. The size of investments of the company records 1.923 billion pounds. Meanwhile, the minister inspected El Nassera Group for advanced electrical industries, which has a 700-million-dollar worth business and a ratio of 60-80 percent of local manufacturing. The exports of the company are expected to reach 15 million dollars during the year 2024. |
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