Furniture importers turned into manufacturers after pound devaluation, says official

CAIRO – 30 April 2017: The imported furniture prices have witnessed a large increase over the past period due to the latest surge in the foreign currency exchange rate, Member of the Egyptian Furniture Export Council (EFEC) Ahmed el-Iraqi told Egypt Today.

This fact, he added, has made some furniture importers turn into manufacturers, which in turn had a positive impact on Egyptian-made furniture. It also opened up opportunities for it to be available in markets, especially in the light of its high quality.

Iraqi's remarks were made ahead of Furnex and the Home Exhibition, slated for May 1-6, in which he will participate as an exhibitor.

The furniture exhibited at Furnex and the Home will have up to a 40 per cent sale, he said, noting that all companies participating in the event are Egyptian.

(Additional reporting by Dana el-Hadidi)