Egypt’s Plastics, rubber exports to hit $1.8bn by end 2015

Exports of plastics and rubber sector are expected to reach EGP14 billion (US$1.78 billion) by the end of 2015, Head of Plastics Division at Egyptian Chamber of Chemical Industries (CCI) Khaled Abou El Makarem said Tuesday.

Abou El Makarem stated that the sector has obtained 9 billion Egyptian pounds during the past eight months.

He asserted that the sector is able to achieve exports volume of EGP5 billion within the coming months this year amid enhancing the capacity rates of factories.

The sector has made developing plan and a strategy to enter new markets ,notably the United States, and enhance exports to Africa; Abou El Makarem clarified, adding that the sector is to make use of the African Free Trade Zone (AFTZ) to boost its exports to the African markets.

The African Free Trade Zone -signed between the regional blocs of East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa) and the Southern African Development Community (SADC) – aims to contribute to economic growth of the blocs and the entire African continent in general.

Abou El Makarem further noted that the division aims at constructing electronic gate in cooperation with the Industrial Modernisation Centre (IMC) to increase sector’s exports through setting up a database including all firms working in the sector and present all products to link between firms and clients all over the world.

The electronic gate is to be established with the investment cost of 250,000 Egyptian pounds, he added.