Egypt targets 15% annual growth in exports in 2yrs

Egypt’s Export Development Authority (EDA) is planning to achieve a minimum annual growth in exports of 15 prcent within the upcoming two years to reach a targeted exports value of 534.9 billion Egyptian pounds ($30 billion) within 2020.

2015 was a milestone year for the Egyptian balance of trade, as exports registered 332.91 billion pounds ($18.67 billion) and imports hit 1.25 trillion pounds ($70.27 billion), EDA chair Sherine El-Shorbagi stated.

Egyptian Ministry of Industry and Trade’s strategy, which is adopted by the EDA, includes a plan to increase the state’s exports to $30 billion within 2020, which will not be realised without the growth of foreign markets and the database of Egyptian exporters, El-Shorbagi further added.

The EDA is committed to informing the Egyptian private sector of trade agreements signed with friendly countries to boost bilateral trade, the top official said.