Egypt signs ‘cotton development’ protocol with UNIDO

CAIRO – 18 July 2017: Egypt signed a € 1.5 million ($1.74 million) cooperation protocol with the United Nation Industrial Development Organization (UNIDO) and the Italian Agency for Development Cooperation to develop Egyptian cotton production.

In the presence of Prime Minister Sherif Ismail, the protocol was signed by Tarek Kabil, Minister of Trade and Industry; Abdel Moneim El-Banna, Minister of Agriculture; Giovanna Ceglie, director of UNIDO’s Regional Office in Egypt; and Felice Longobardi, head of the Italian Agency for Development Cooperation.

The project, titled Cotton: from seeding to weaving, includes raising the capacity of cotton farms with regard to the sustainable agricultural practices of organic cotton, as well as the production capacity of private sector companies working in the textile industry.

The agreed parties will offer training programs for farmers, technicians working in textile companies, as well as students in industrial and agricultural schools.

The Egyptian spinning and weaving industry contributes significantly to the gross domestic product (GDP), especially since a large number of the labor force works in this field. In addition, weaving exports represent 15% of non-petroleum Egyptian exports, and are mainly targeted by the Ministry of Trade’s initiative of industrial development.

Suffering from an economic slowdown over the past few years due to political turmoil and security issues, Egypt has started a three-year economic reform program, which includes austerity measures, energy subsidy cuts and a floating exchange rate.