EU’s €20 million scheme to boost Egypt trade will start next Feb

Egypt is to commence implementation of the European Union-funded €20 million Trade and Domestic Market Enhancement Programme (TDMEP) in February, said Egyptian industry minister.

Under the umbrella of the EU-Egypt Association Agreement, the TDMEP aims to help enhance Egypt’s competitiveness in the global market through trade and domestic market reforms.

The general objective of the programme is to assist the Ministry of Industry and Trade in the implementation and execution of key policy reforms to help Egypt further integrate into the global and regional economy.

Minister Tarek Qabil said the programme will continue until late 2018.

TDMEP will assist the strategic priorities of the Egyptian Government with respect to long-term economic development and sustainability through reducing economic disparities, creating more job opportunities and strengthening Egypt’s international trade role.

Key areas of TDMEP focus will be foreign trade and trade agreements, the free movement of goods between Egypt and EU, export promotion, industrial development and quality infrastructure.

The TDMEP will be tackling the above mentioned areas through two main dedicated components for: 1) International Trade, 2) Industrial Development.

The TDMEP is expected to ultimately contribute to improving the quality of domestic production in Egypt and enhancing its international competitiveness.