Industry Sets New Strategy For Developing Commodity Exports

The Egyptian Ministry of Industry and Foreign Trade in cooperation with the Exports Councils are mulling over setting a new strategy for developing the Egyptian exports from 2014 to 2018; especially after finishing the current strategy for doubling the exports, which has been implementing since 2010, at the aim of reaching EGP 200 billion for non-petroleum commodities exports.

Abdel Rahman Abdel Raouf, CEO of Export Development Fund, said the aim of this new strategy is to transform Egypt into a regional and global center for export in the Middle East and North Africa. He referred that the ministry, the fund, and the 13 exports councils are studying the mechanisms and the necessary procedures for growing the Egyptian exports for all sectors.

This came during his meeting with the Egyptian Furniture Export Council, headed by Eng. Saeed Ahmed, in order to discuss the new suggested strategy as well three Scenarios for sustaining the exports, which the fund is financing.

Abdel Raouf said the first scenario is about the continuity of the current mechanism and programs without changes; while the second one is about taking a number of procedures for resolving the problems and defects which emerged in the wake of the Egyptian revolution. As to the third scenario, it is about taking deep procedures for treating the long term problems that the Egyptian exports are suffering from.

He has also referred that working in the programs of sustaining the different exports sectors will end next June, therefore the export council have to hastily move for setting new strategy for developing the exports and suggesting different demanded programs for sustaining the exports.