Egypt launches initiative to broaden exporter base beyond top firms

Egypt launched a nationwide initiative on Wednesday to expand its exporter base by bringing government export support services directly to businesses, as the country seeks to boost overseas sales and reduce reliance on a small group of major exporters.

Investment and Foreign Trade Minister Mohamed Farid launched the ” Egypt Takes Off for Exports” Initiative at Tanta University in Gharbia Governorate under the patronage of Prime Minister Moustafa Madbouly, the ministry said in a statement.

A New Bid to Turn More Egyptian Firms into Exporters

Farid said around 50 companies account for approximately 45 per cent of Egypt’s total exports, highlighting the need to help more businesses enter international markets and diversify the country’s exporter base.

“Just as Mohamed Salah has become a global success in football, we want to see Egyptian companies achieve the same success with their products in international markets,” Farid said.

The initiative will provide export-related government services directly to companies in governorates and industrial clusters, eliminating the need for businesses to visit government offices. The ministry said the programme aims to expand access to export support through field visits, workshops, and awareness campaigns.

Farid said only 730 companies have so far benefited from Egypt’s export development programmes, adding that the ministry aims to reach thousands of businesses nationwide through the new initiative.

The programme will introduce businesses to services offered by the ministry’s affiliated agencies, including the Export Development Authority (EDA), the Export Development Fund (EDF), the General Authority for Investment and Free Zones (GAFI), the Egyptian Commercial Service (ECS), and the Egypt Expo & Convention Authority (EECA). It will focus particularly on small and medium-sized enterprises by providing training, guidance, and incentives to help them meet export requirements and access overseas markets.

Farid said that increasing exports requires cooperation among the government, private sector, universities, and local authorities. He added that the ministry planned to introduce incentive awards for companies achieving the strongest export growth to encourage greater participation in international markets.

Farid said Gharbia generated about $2.1 billion in exports over the past five years and expressed hope that greater competition among governorates would help raise Egypt’s overall export performance.

Attribution: Amwal Al Ghad English