Egypt’s exports grow 12 % recording $22.4 in 2017: Qabil

Egyptian non-petroleum exports rose by 11-12 percent during 2017, registering $22.4 billion, Minister of Trade and Industry Tarek Qabil said.

Qabil  said during his inauguration of el Jiyashi steel factory in Sixth of October city that  seeks increase exports during the upcoming period in order to reduce the trade balance deficit.

El Jiyashi steel factory is located in Sixth of October city with a production capacity of 240,000 tonnes of steel annually.

He further added that there is a significant improvement in the rates of the industrial output whereas it has reached 40 percent during the last period, referring that the liberalization of the exchange rate contributed with the Egyptian products competitiveness.

Qabil added that the last period has witnessed the inauguration of 3 factories daily, stressing that the ministry is keen on cooperating with the private sector in order to carry out infrastructure  works for the industrial zones