RMGEC: exports of ready made clothes to hit $1.7B

CAIRO - 14 June 2018: Head of the Ready Made Garments Export Council (RMGEC) Mohamed el Sayaad has said the strategy of the ready made clothes sector in Egypt aimed at increasing exports by the end of this year to $1.7 billion with a 20 percent increase over 2017.

In statements Thursday, Sayaad pointed out to plans with Chinese companies to establish textile factories to produce more clothes locally for imports, saying the council seeks to get major factories to help small and medium-sized enterprises through providing them with technical support with the aim of increasing Egyptian exports.

He said the liberalization of foreign exchange and the increase of customs duties has helped to boost local industries, encourage competitiveness in local markets and reduced exports.

He said that currently Egypt has 620 plants that produce export-oriented ready-made garments. Their combined workforce stands at 460 thousand, half of them in direct jobs and the other half in indirect ones.