Switzerland commits $1.5 million Swiss francs for Egypt GTEX programme
Switzerland on Sunday signed an agreement to provide financial and technical support for Egypt’s Global Textiles and Clothing (GTEX) programme.
The envisaged impact of the programme is to increase employment and income along the textile and clothing value chain in the five selected priority countries; Egypt, Morocco and Tunisia in North Africa as well as Kyrgyzstan and Tajikistan in Central Asia.
The agreement will see Switzerland committing a 1.5 million Swiss francs ($1.51 million) funding to implement the GTEX programme in Egypt, Swiss ambassador to Egypt, Paul Garnier, said.
Egyptian Minister of Industry and Trade Amr Nassar and ambassador Garnier, have signed the agreement in Cairo.
The agreement will help implement Egypt’s strategy to increase export competitiveness in industrial sectors, mainly textile and clothing, Amr Nassar said in a ministry statement.
The main objective of the agreement – which became effective upon signature and to last until December 2021 – is promoting sustained, inclusive, and sustainable economic growth, as well as full and productive employment in the textile and clothing sector, the minister said.
The direct beneficiaries of the GTEX programme will be SMEs, including their employees and managers, as well as trade and investment support institutions (TISIs), including training institutions.