The Egyptian Chamber of Apparel and Home Textile Industries (ECAHT) and the International Finance Corporation (IFC), a member of the World Bank Group, signed a cooperation protocol to upgrade the technical textiles industry supply chains in Egypt and increase its competitiveness.
Head of ECAHT Mohamed Abdel Salam said IFC’s choice of Egypt reflected that Cairo has a promising market in the technical textiles industry and ready-to-wear garments.
The protocol aims at achieving a growth for the textiles sector in Egypt, honing the skills of workers in such specialized fields as well as merging Egypt in the international supply chains of this industry, he added.
He added that the project aims to boost Egypt as a hub for manufacturing and exporting these products as well as attracting foreign investments and fostering exports.
Meanwhile, Regional Director of IFC for North Africa Cheick-Oumar Sylla said Egypt is has a promising opportunity for expanding the market for the technical textiles industry, noting that partnership with ECAHT aims at luring Foreign Direct Investments (FDI) to Egypt with a value of dlrs 50 million by 2026.
Technical textiles are engineered products manufactured using both natural and man-made fibres such as Nomex, Kevlar, Spandex, and Twaron.
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