Home Textile Council forms firm in Russia to promote Egyptian exports

Egypt Home Textile Export Council (HTEC) agreed on forming an Egyptian firm in Russia to promote Egyptian exports there, council’s Undersecretary Hamdy El-Tabakh stated Wednesday.

All companies of Egypt’s home textiles sector are set to participate in the capital of the new firm, the official added.

The set-to-be-formed firm would rent a group of warehouses to ease access of Egyptian product into the Russian market, El-Tabakh pointed out.

He clarified that the unified investment law should adpot incentives for expanding existent investment projects since it includes several incentives for the new investments only.

Moreover, official El-Tabakh emphasised on the importance of signing preferential trading agreements between Egypt and Japan as wells as South Korea.