CAIRO – Prime Minister Moustafa Madbouli chaired on Monday a meeting with Trade and Industry Minister Nevin Gamea to expound the outlines of the new exports development program.
Madbouli said the State attaches great importance to the file of exports upon the directives of President Abdel Fattah El Sisi in order to boost the national economy.
Executive Director of the Exports Development Fund Amani el Wesal attended the meeting.
The premier made clear that current talks over the new program aim at reaching a satisfactory formula meeting the requests of both manufacturers and exporters.
Gamea reviewed the outcome of talks that were held with exports councils over the past three months over the program that aims at increasing exports to boost the national economy and create more jobs.
The program, the minister said, will be carried out within the coming three years but will be assessed annually.
The program aims at keeping the exports rate in the first year as it is with an increase of 10 in the second year to rise by 15 to 20 percent in the third year, she said.
The program seeks, at first, to avoid any decrease in Egyptian exports that might occur as a result of global slowdown promoted by the outbreak of Covid-19 then achieving an essential increase in the volume of exports as one of the main sources of hard currency and increasing employment rates in different industries.
The program also aims at developing exports of small-sized projects and increasing their access into Africa and new markets, enhancing infrastructure of exports and boosting transport across the African continent.
The prime minister instructed keeping coordination with the Finance Ministry to boost the new exports program, likely to come into force with the start of fiscal year 2021/2022.
