Building materials exports to reach $3.2b end-2016: Egypt’s Council

The Egyptian Export Council for Building Materials eyes achieving exports of 42 billion Egyptian pounds (around US$3.2 billion ) by the end of 2016 versus 26 billion pounds in 2015.

Council’s Head Walid Gamal Eldin told Amwal Al Ghad Wednesday that the total exports of building materials sector rose 55 percent to 30 billion pounds during the first nine months of 2016.

He made these remarks on the sidelines of the 8th round of the International Ceramic and Sanitary Ware Exhibition (ICS) that takes place from 9 until 12 November with the theme ” The Right Direction”.

The official added that Arab states got the lion’s share of the Egyptian exports notably after the decline in Libyan market due to the political situations.

About council’s promotional strategy, Gamal Eldin clarified that building materials sector participates effectively in global exhibitions as 25 Egyptian firms would take part in the International Building and Construction Show- The Big 5 exhibition .

The Big 5 is set to take place in Dubai from 21-24 November bringing together suppliers and buyers of building and construction products and materials to do business, discover the latest innovations and learn from industry experts from around the world.

The council is currently focusing on expanding in the African market since it would send four promotional missions to African states.

About the decision of Egypt’s Central Bank (CBE) to liberalise exchange rate, the chairperson asserted that it is a positive step for firms that depend on local component.

Moreover, the official added that such decision would lead marble and ceramic sectors to witness a leap in exports volume.