New $750mn-strategy to boost Egypt’s furniture exports until 2020

  The Egyptian Furniture Export Council (EFEC) designed a five-year strategy to develop furniture sector, Chairman Ihab Derias stated during council’s meeting held Monday.

  The strategy includes boosting sector’s exports to US$750 million annually until 2020, attracting more investments, encouraging small producers to join EFEC and make use of the services provided by  state, Derias said.

The strategy is set to be submitted to Trade Minister Tarek Qabil to be added to ministry’s strategy for the upcoming period.

  Derias added that EFEC has cooperated with one of the companies specialised in industrial strategies to make full study on the governmental procedures necessary for achieving the targeted volume of furniture exports and capacities.

  Council’s strategy is depending on providing practical mechanisms and solutions for the barriers and obstacles that face the industry, the official noted.

  Moreover, chairman Derias clarified that the five-year strategy also relies on establishing the new Damietta furniture city as soon as possible, providing more industrial lands to cope with the investment expansion in furniture sector as well as  improving industrial education and technical training.