Finance, trade ministers ink 41 settlement agreements for exports' arrears

CAIRO - 6 May 2020: Finance Minister Mohamed Maait and Trade Minister Niven Gamea' inked, with the representatives of 41 local and foreign exporting companies, settlement agreements for the arrears to the Export Development Fund.

This comes after presidential directions to support the economic and exports sectors to increase the production abilities in light of the coronavirus to contribute to providing financial liquidity for these companies.

Maait asserted that the presidential directives are clear to support the exports, saying that the exporters will pay 30 percent of their arrears by the end of this fiscal year with a minimum limit of LE 5 million.

Maait said that these agreements come within the framework of the continuous efforts of the government to support the economic sector and curb the effect of COVID 19 on the national economy.

This will contribute to boosting the competitiveness of the Egyptian products internationally and opening new international horizons for them, he said.

Meanwhile, Gamea' said that these agreements come as part of the government's efforts to support the exports' sector during the current stage.