Egypt targets 15-20% increase in annual exports: minister
Egypt’s Minister of Planning Hala al-Saeed said on Monday exports are vital for the Egyptian economy, adding that the government is seeking to increase annual exports by 15 to 20 percent.
The minister’s remarks were made during her meeting with governor of the Central Bank of Egypt Tarek Amer, the Council of Governors of the Islamic Development Bank (IsDB) and representatives of the IsDB’s Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) led by the corporation’s CEO Abdel-Rahman El-Kaissi, Director of Middle East and North Africa Morad Mizori, and Regional Director Ali Mostafa.
The talks covered bolstering cooperation between the Egyptian government and the IsDB.
The minister asserted the need for expanding the base of foreign currency, adding that a group of sectors are propelling the Egyptian economy such as industry, agriculture, communication, and construction.
El-Kaissi proposed increasing the ICIEC’s investments in Egypt in view of its stability compared to the volatile regional situation. He also asserted his corporation’s keenness to open up to the African market.
El-Kaissi congratulated the Egyptian minister on her appointment in the Council of Governors of the IsDB in August.
The ICIEC is a member of the Islamic Development (IDB) Group. The ICIEC was established in 1994 as an international institution with full juridical personhood.