IFP Group Expands its Regional Footprint by Setting up Shop in Egypt
As part of IFP Group’s commitment to the regional market, the company is proud to announce the inauguration of its first subsidiary in Egypt. Under the auspices of the Ministry of Supply and Internal Trade, IFP Group celebrated the event at a gala Sohour that gathered more than 150 key guests from decision makers to industry experts to key government officials. The celebration signified one of the most prominent geographical expansions that IFP Group has undertaken to date given Egypt’s prime location on the world map with easy access to Europe, Asia and Africa.
The inauguration was held in the presence of Mr. Saeed Abdullah, Head of Trade Agreements and Foreign Trade on behalf of H.E. Minister of Industry and Trade, Mounir Fakhry Abdelnour, and Mr.Yasser Abbass, Deputy Head of Internal Trade Development, on behalf of H.E. Minister of Supply and Internal Trade Khaled Hanafy. This is in addition to the presence of The Egyptian-Lebanese Friendship Association Chairman Fathallah Fawzi, Fady Kaddoura, Group VP, International Sales at IFP Group,and Mr. Tamer Safwat, CEO of IFP Egypt.
The company stated that establishing its Egyptian subsidiary reflects IFP’s vision of the Egyptian company in cooperation with Konzept Exhibitions & Event Management aiming to pay attention to the priorities of markets in Egypt and Africa.Year 2015 is supposed to witness the launch of “Food Africa” ,the international commercial exhibition for foods and drinks, as well as “Project Egypt” the international commercial exhibition for building materials techniques and environmental protection.
Mounir Fakhry Abdel Nour, Minister of Industry and Trade asserted on the importance of the exhibitions industry to promote and support Egyptian products in foreign markets. “We strongly believe that with companies such as IFP setting up shop in Egypt will aid in reinforcing Egypt’s position in the international exhibitions map and will aim at placing Egypt as the regional hub for cross boarder exhibitions to serve Africa and Arab countries in all sectors namely food industries and agriculture, and building and construction sectors,” he added.
He also stated that Egypt currently has strong a relationship and agreements with neighboring African countries, especially on the commercial front, indicating that the volume of Egyptian exports to Africa during the first half of 2014 was estimated at EGP 4 billion, where the food industries sector garnered more than EGP 976 Million from.
Abdel Nour stated that the government is currently focusing strongly on the food industry, noting that the strategy of the next phase aims at further trade liberalization with all African countries serving the interests of all neighboring countries with new programs for export incentives.
On his part, Dr. Khaled Hanafy, Minister of Supply and Internal Trade, stated that in the upcoming period the government is focusing on, in cooperation with the private sector, increasing Egyptian products’ competitiveness in local and foreign markets. He also highlighted that fairs and exhibitions create room for businesses to develop through knowledge sharing and being exposed to advanced technologies and production techniques.
Hanafy also stated that Egypt, with the country’s powerful infrastructure and trade ports, is considered a hub for global and regional businesses looking to expand into African countries. He explained that the government aims at becoming the main channel of access to EU countries and the Gulf region via Suez Canal – which is a major maritime global channel for shipping goods.
Hanafy also highlighted that with Egypt’s newly found political and economic stability, the government is taking solid steps towards regaining both foreign and local investor trust.
“We strongly believe that this is a strong step in growing our regional footprint,” commented Fady Kaddoura, Group VP of International Sales at IFP Group. “IFP Group – through its subsidiary in Egypt – aims at promoting Egyptian products across Africa and Arab countries. In addition to inspiring new collaborations, facilitating new project partnerships and supporting the acceleration of Egyptian producers, manufacturers and companies.”
“Egypt is and will always remain the center of the African and Arab worlds. By setting up shop in Egypt, we are reaching out to both the Egyptian and African business community that are looking to promote their products across the region,” added Kaddoura
“Egypt’s unique geographic location enhances the country’s position as a key global business hub that connects Africa to the world. In addition to the countries solid commercial and trade bonds with African countries especially with free trade agreements highlighted by COMESA which includes around 20 countries, Agadir Agreement between Egypt and North African countries and numerous bilateral agreements,” said Mr.Tamer Safwat CEO of IFP Egypt.
The prestigious event was attended by an elite group of representatives from Egypt Expo & Convention Authority “EECA”, Consumer Protection Agency, The Federation of Egyptian Industries, The Chamber of Food Industries, The Food Export Council, The Agriculture Export Council, and numerous chambers of commerce. As well as a number of commercial attaches, diplomatic missions and a number of top business dignitaries in commerce and industry.
