Egypt's Export Development Fund and the Engineering Export Council discussed plans to modernise the export support system. The meeting aims to enhance industrial competitiveness and accelerate export growth.
The meeting brought together Hatem El-Nawawy, chief executive officer of the Export Development Fund, and Sherif El-Sayyad, chairperson of the Engineering Export Council of Egypt. Discussions focused on supporting engineering exports and improving exporters' readiness for international markets.
El-Nawawy said developing the export support system is a key pillar of the Ministry of Investment and Foreign Trade's strategy. The new approach goes beyond financial incentives to build companies' capabilities and ensure compliance with international requirements.
El-Sayyad outlined a target to double engineering exports from $6.5bn in 2025 to $13bn by 2030. This supports the ministry's goal of raising total exports to $100bn by 2030.
Both sides agreed to leverage the African Continental Free Trade Area and the Mercosur trade agreement to diversify markets.