Building materials exports jump 66% in nine months- Egypt’s Council

The total exports of Egyptian building materials sector jumped 66 percent by the end of September 2016.

Chairperson of Egypt’s Export Council for Building Materials, Walid Gamal Eldin stated Saturday that total exports volume reached 30.314 billion Egyptian pounds (US$2.3 billion) in January-September 2016.

He added that the council is currently developing its studies about boosting exports of four sectors; steel, ceramic, gypsum, and sanitary wares, to submit them to Trade Minister Tarek Qabil.

Gamal Eldin pointed out that industrial exports are Egypt’s hope to overcome economic crisis through increasing  production rates and lowering unemployment rates to hike state’s economic growth.

The council would submit a memo including its suggestions for increasing exports of building materials sector to the minister, the head clarified.

On other side, Chairman Gamal Eldin emphasised on the importance of holding a national conference for exporting in Sharm El Sheikh -under the patronage of President Abdel Fattah al-Sisi- with the participation of senior officials and leaders, as well as exporting councils and manufacturers.

The conference would discuss means of doubling Egypt’s exports, opening new markets, removing obstacles facing exporting, shrinking trade balance deficit to stabilise pound prices against the dollar, Gamal Eldin clarified.