Minister of Investment and Foreign Trade Mohamed Farid launched the Egypt Exports Initiative at Tanta University in Gharbia Governorate today.
The launch took place during a major event held under the patronage of Prime Minister Mostafa Madbouly and attended by representatives of government entities, the business community, industry and trade. The initiative forms part of President Abdel Fattah Al-Sisi’s directives to increase productivity, strengthen Egyptian exports and expand the country’s base of exporters.
Farid said just 50 companies account for around 45% of Egypt’s total exports and that only 730 companies have so far benefited from export development services. He added that the ministry aims to deliver services directly to businesses in governorates rather than requiring them to visit government institutions.
Gharbia Governor Alaa Abdel Moaty noted that the governorate exported goods worth approximately $2.1bn over the past five years and expressed commitment to supporting national export objectives.