Egypt to ban raw material exportation

CAIRO - 23 July 2018: In order to boost the value chain in Egypt, the Ministry of Industry and Trade plans to ban the exportation of raw material that occupies the top position of Egypt’s exports list so that they enter multiple manufacturing processes.

Examples of these materials are raw gold, gold powder, crude oil, light fuel oil, copper wires, orange, urea fertilizer, furniture components, woolen suits for men, fragrance, white cheese, carpets, potato seeds, onion, and leeks.

Minister Amr Nassar issued the statement on Sunday in a meeting with chairmen of Export Council for Building Materials, Refractories and Metallurgy Industries Walid Gamal, Metallurgical Industries Chamber Gamal al-Garhy, and Building Materials Chamber Ahmed Abdel Hamid, according to MENA.

Nassar added that Egypt is pushing into concluding a free trade agreement with the Common Market for Eastern and Southern Africa (COMESSA), the Southern African Development Community (SADC), and the East African Community (EAC) through negotiations.

The minister revealed that Egypt is working on introducing the RORO (Roll-on/roll off) shipping system in sea ports in order to facilitate trade with other countries. RORO ships are vessels that carry wheeled cargo able to go on and off the ship that is the opposite of load on/load off (LOLO) system where a crane is used to carry the cargo.