Industry Min., ITFC discuss Cooperation's work plan in Egypt

CAIRO - 19 January 2022: Minister of Trade and Industry, Nevine Gamea, held an extensive meeting with Hany Sonbol, Chairman of the Board of Directors of the International Islamic Trade Finance Corporation (ITFC) and his accompanying delegation, which dealt with reviewing the Corporation’s work plan in Egypt during 2022, and following up on the projects implemented by the Corporation in Egypt in the areas of trade support and empowerment programs Women and others. 

The meeting was attended by Minister of Trade Commissioner Amr Hazaa, advisor to the minister for development projects, and Heba Gamal, representative of the International Islamic Trade Finance Corporation in Egypt.

The Minister said that the ITFC is one of the most important development partners of the Egyptian state, as its projects contribute to supporting the sectors of trade and industry, small and medium enterprises, and women's empowerment projects, in addition to supporting the bonds of commercial cooperation between Arab countries and the countries of the African continent within the framework of the Aid for Trade initiative for Arab countries.

Gamea indicated that special arrangements are being made to establish the first exporters academy in Egypt in cooperation with the International Islamic Trade Finance Corporation, pointing out that it is planned that the academy will include an institutional entity that will provide training programs to support the Egyptian exporter and enhance its ability to access more global markets.

The minister added that the meeting dealt with the possibility of organizing an edition of our Heritage exhibition for heritage products and handicrafts, which is organized by the Medium, Small and Micro Enterprise Development Agency, during the activities of the annual meeting of the Board of Governors of the Islamic Development Bank, which will be held in Sharm El-Sheikh during the month of June with the participation of 57 countries and more than 3 thousand participants.

For his part, Hany Salem Sonbol, CEO of the International Islamic Trade Finance Corporation, stressed the Corporation's keenness to implement more development programs in Egypt, as it is one of the most important partner countries of the Corporation, pointing to the importance of achieving integration among all development partners in Egypt with the aim of achieving the best results to support the Egyptian economy. .

Sonbol added that preparations are underway for the ITFC’s participation in the 27th Climate Summit, which Egypt will host in Sharm El-Sheikh during the month of November, noting that the ITFC’s Board of Directors agreed to launch the second phase of the Assistance Program for Trade in Arab Countries "Aftias 2", which aims to improve the environment International trade in the Arab region, making it more efficient and comprehensive, providing more job opportunities, contributing to achieving sustainable development in the Arab world, and facilitating the access of Arab exports to more global markets.

The CEO of the International Islamic Trade Finance Corporation stated that the annual meeting of the Arab-African Trade Bridges Program will be held in Egypt during the period from 14-15 March, with the participation of a large number of ministers and representatives of global development institutions, pointing out that the institution approved financing of $2.6 billion to finance projects. In addition, there is a possibility for the IFTC to adopt 50 Egyptian women in the field of handicraft and heritage products and to provide support programs for their projects so that their products can access international markets.