The Worldwide Financial Fund (IMF) has reviewed Egypt’s efforts to extend its exports to world markets and assist numerous productive sectors address the fallout from the coronavirus pandemic, along with its makes an attempt to develop the small-scale sector. and medium-sized enterprises.
This occurred through the IMF mission’s videoconference assembly with Commerce and Trade Minister Nevin Recreation on Friday.
Gamea stated Egypt goals to extend its exports to US $ 100 billion by implementing a strategic plan to open extra markets for Egyptian exports, particularly in Europe, Africa and the Arab world.
A number of techniques of the export improvement technique embrace growing the competitiveness of Egyptian business, offering market data and research, offering packages and instruments to safe and assure exports and maximizing the advantages of all businesses and entities concerned within the export, she defined.
She added that the federal government has adopted measures to assist the export sector to counter the detrimental repercussions of the coronavirus, together with the postponement of fee of loans owed by exporters and the postponement of fee of state royalties to them.
The minister additionally drew consideration to state assist for manufacturing facility employees and an initiative to ease the burden on exporters to pay arrears owed to firms, as this consists of the disbursement of all contributions for small companies. firms.
Gamea stated a very powerful goal markets for exports are Africa and the Arab world, alongside European and American markets.
And he or she stated abroad commerce consultant places of work and Egyptian embassies present data to exporters by offering them with market wants and export necessities to varied markets and bigger importers – along with bettering communication between Egyptian and overseas firms.
Relating to the overview of meals exports, Gamea stated that the Meals Security Authority will probably be answerable for the security of meals traded within the native market and exported to overseas markets, requiring exporting firms to adjust to the necessities. worldwide.
Edited translation of Al-Masry Al-Youm