Egypt sees $145b export target within reach amid reforms: minister
Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib said on Monday that the country is on track to reach its $145 billion annual export target under a combination of sound monetary, fiscal, and trade policies.
Speaking at a roundtable organized by the Capital Call platform, El-Khatib highlighted that reforms have helped reduce Egypt’s trade deficit to around $30 billion, the lowest level since 2010.
“Achieving $145 billion in exports is now possible thanks to monetary policies targeting inflation and flexible exchange rates, fiscal measures reducing burdens on investors and exporters, and trade policies supporting competitiveness,” El-Khatib said.
The minister outlined structural reforms that have cut customs clearance times from 16 days to 5.8 days, with a goal of reducing the process to two days, alongside digitisation of procedures to simplify approvals and reduce fees. He also announced plans for a digital platform unifying investors and authorities, including pre-clearance customs approvals, pending parliamentary approval.
El-Khatib stressed that professionalised trade will boost industry, attract investment, and support high-value sectors, including green industries and service exports, while adhering to environmental, social, and governance standards. He also highlighted a strategy to expand trade agreements and private-sector partnerships, including the development of six logistics hubs across Africa connected by land and maritime routes.
Hossam Heiba, Chairman of the General Authority for Investment and Free Zones (GAFI), noted the role of startups in manufacturing and exports, urging the activation of sector-specific incentives under current law to encourage continued investment and growth.
The roundtable included leading business figures, investors, exporters, and banking officials, with open discussions addressing challenges, opportunities, and suggestions for supporting Egyptian exports.
Attribution: Amwal Al Ghad English