Egyptian exports grow 20% in Q1 – minister

Egyptian exports increased 20 percent within the first quarter of 2022 compared to the same period last year, Minster of Trade and Industry Neivin Gamea, announced during a meeting on Sunday.

Gamea noted that the immediate payment initiative contributed to the rapid support to exporting companies and support of the industrial and export sectors, during a meeting with the heads of the export councils,

Prime Minister Moustafa Madbouly commanded to contribute with more facilities focused in increasing industrial development rates, she added. This is in addition to efforts to increase exports by facilitating the procedures for obtaining industrial licences.

Gamea also stated that women largely benefit from the trade exchange, namely, through the launch of the 50 Million African Women Speak (50MAWS). It is a platform joining more than 38 African states members in Common Market for East and South Africa (COMESA), Economic Community of West African States (ECOWAS) and East African Community (EAC).

The minister added that targeting African markets is a major axis in Micro, Small and Medium Enterprise Development Agency MSMEDA’s action plan for expanding trade exchange on small enterprises, particularly through member states of Common Market for East and South Africa (COMESA).