Chemical Industries: Egyptian Product Suffers From Energy Crisis

Eng. Hamdy Abdel Aziz, Board’s Chairman of the Chamber of Engineering Industries, at Federation of Egyptian Industries (FEI), has warned of retreating the competitive level on the Egyptian product because of it high cost, which ranges between 15 and 20%. This high cost comes due to many reasons; like the energy prices, some items of the international agreements and the joint European market.

Abdel Aziz told “Amwal Al Ghad” that the Saudi products, for example, get energy with low prices, compared to the Egyptian product; resulting in making a bug gap in the prices for the sake of the other products.

The Chairman underlined the necessity of equalizing between the Egyptian importer and the other part in the agreement; paying regards to any new changes.

On the other hand, Abdel Aziz said declining Egypt’s credit rating influenced the Egyptian importers in their transactions, especially over the payments’ ways; elaborating that these payments’ ways have been changed in a way that bears the Egyptian importer more burden.

He added that the chamber is working on reactivating the sector, particularly through “Egypt’s Makers” convention, as a message confirms that the sector still works although the incidents and tensions.