Chemical exports to Nile Basin states hike 147% in 2015: Egypt’s Council

Egypt’s total chemical exports to Nile Basin states hiked by 147 percent in 2015 to 9.6 billion Egyptian pounds (US$1.2 billion) from 7.8 billion pounds in 2014.

Chairperson of Egyptian Chemical Export Council (CEC), Khaled Abu El Makarem stated Monday that the Egyptian market enjoys prominent chances to double its exports to the Africa.

Egyptian Trade Minister Tarek Qabil formed a committee to be responsible for designing a plan and a strategy to double Egyptian exports to the African market within five years, the official added.

The newly-formed committee encompasses heads of chemicals, engineering, and medical industries export councils and is scheduled to hold its first meeting next week, El Makarem noted.

In cooperation with different sectors of trade ministry, the committee is supposed to finish designing the strategy within 30 days from day one of its work.

The committee is also set to discuss mechanisms of boosting Egyptian exports as well as incentives of enhancing exporting to Africa, the chairman said.