Egypt eyes chemicals, fertilizers exports up to $8.5bn in 2020: CEC

Egypt seeks to increase its exports of chemicals and fertilizers to $8.5 billion at the end of 2020 from $4.5 billion in 2017, said head of the Chemicals and Fertilizers Export Council (CEC) on Wednesday.

“We target a 20 percent growth annually,” Khaled Abu El Makarem told Amwal Al Ghad.

During the first half of the year, Abu El Makarem said chemicals and fertilizers sector achieved 26 percent surge in exports to register $2.594 billion from $2.58 billion during the same period in 2017.

“It’s expected that the public sector exports would reach around $5.5 billion within this year,” he said, adding that plastics and fertilizers are two of the main sectors in the council, leading to a growth in the country’s overall exports.

Abu El Makarem said CEC’s strategy focuses on promoting the sector’s exports to Africa and Europe.