QIZ Exports Slumped By 4%, Recorded EGP 2.88 bln in June

Egypt’s exports of ready-made garments to the USA, according to Qualifying Industrial Zone (QIZ), reached EGP 2.88 billion in H1 of 2012, dived by 4%, compared to EGP 3 billion last year.

Mohamed Kassem, Chairman of Ready-made Garments Exports Council (RMGEC), told Amwal Al Ghad that the comparative decline of the Egyptian exports “QIZ” is due to the turmoil which the domestic production witnessed during the previous period; consequently the American importer feared of the Egyptian side in case of not committing to the demanded orders.

One reason of this decline and not achieving the planned growth rates of ready-made garments exports to the USA, according to QIZ, is retreating the rates of the global demand in the global market on different commodities; because of the crises which the European economies as well as American economy faced.

Kassem denied that the decline of QIZ is because the Egyptian revolution or the post-revolution incidents, or the disputes which have happened lately between the Egyptian and American sides because of financing the NGOs. He proved that by mentioning the increase of Egypt’s exports to the USA in H1 of 2011.

He affirmed that the coming period will witness attempts from the Egyptian side to increase the global demand on its products of ready-made garments; in order to achieve jump in the Egyptian exports and to encourage the domestic production.