Thu, 03 Sep 2020 - 02:59 GMT
Minister of Trade Nevine Gamea: File Photo
CAIRO - 3 September 2020: Minister of Trade and Industry Nevine Gamea has said that her ministry is keen on increasing Egyptian exports to the US market, which is considered a key importer of the country's products.
Gamea added that she directed all bodies concerned at the ministry to open channels of communication with the exporting companies to remove obstacles that face them, urging exporters to make best use of all export opportunities offered by the Egyptian Commercial Service (ECS) and its offices spreading through a large number of world countries.
She made the remarks on Thursday during her participation in a symposium organized by the Qualified Industrial Zones (QIZ) headed by Ashraf El Rabiey, to announce the joining 34 new companies to take advantage of the preferential benefits provided by the QIZ agreement to get access to the US market.
She also revealed that Egypt's exports to the US in 2019 rose by 31% to hit USD 2.1 billion, against USD 1.6 billion in 2018.
The trade minister noted that the global spread of the novel coronavirus (COVID-19) represents a great challenge to Egyptian exports for reaching foreign markets, notably the US one.
Around 34 companies joined the QIZ agreement, with total investments of EGP one billion, said Head of QIZ Unit Ashraf El Rabiey.
Those companies are working in the sectors of ready-made garments, textiles, food commodities and leather products, he added.
Egypt's exports to the US market from 2005 to 2019 hit USD 12 billion, Rabiey said, noting that the US annually imports ready-made garments and textiles worth USD 115 billion.