CAIRO – 5 July 2020: Egypt's Ministry of Trade and Industry is currently seeking to set a clear and specific mechanism to implement the Cabinet’s decision regarding not to import any product that has a local alternative, in order to support the national industry and reduce the import bill, by relying on the local industry.
Minister of Trade and Industry Nevin Gamea affirmed in a statement Sunday that the current time is appropriate to deepen local industrialization in light of the coronavirus crisis, by removing obstacles facing manufacturers and providing production requirements and matching costs so that the local product can compete with its importing counterpart.
This came during a meeting held by the Minister of Industry - via video conference - with members of the Egyptian Businessmen Association to discuss the impact of imports on the local industry in the post-coronavirus and how to increase the added value, promote exports and deepen the national industry.
She pointed to the ministry's keenness to market industrial complexes and expand their establishment and achieve networking within the complexes between small and large industries in a way that contributes to achieving integration between supply and production chains, noting the importance of these complexes being equipped with a network of administrative services, and have a valid environment for production.
Gamea explained that Egypt is currently preparing to establish a number of electronic commerce platforms with the markets with which trade agreements are linked, especially the African market, which is one of the most promising markets for the Egyptian industry at the present time.
She referred to the possibility of achieving complementarity with the association and benefiting from its experience in producing this platform in a manner appropriate for Egypt's image.
For his part, Chairman of Industry and Scientific Research Committee at the Egyptian Businessmen Association, Majd El-Din Al-Manzalawy, said that the association is keen on the necessity of a good preparation for the period after the coronavirus pandemic, indicating that there is great interest from the political leadership in the national industry to develop and advance it.
He said that the state’s interest in the industry should translate into practical and executive steps and define the requirements for the development and advancement of the sector by examining ways to advance the national industry and prepare well for the start of a new stage and phase.
Moreover, Members of the Association demanded the activation of the role of business councils between Egypt and all countries of the world because of their significant impact in supporting trade and industrial relations between Egypt and the countries of the world, as well as reviewing the export support program and prompt payment of the dues of the exporting companies.
Sun, Jul. 5, 2020
