{"id":325511,"date":"2022-05-23T15:59:00","date_gmt":"2022-05-23T15:59:00","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325511"},"modified":"2022-05-23T15:59:00","modified_gmt":"2022-05-23T15:59:00","slug":"egypt-sees-20-increase-in-exports-during1q-2022-trade-minister","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/05\/23\/egypt-sees-20-increase-in-exports-during1q-2022-trade-minister\/","title":{"rendered":"Egypt sees 20% increase in exports during1Q 2022: Trade minister"},"content":{"rendered":"

Egypt\u2019s exports increased by 20 percent in the first quarter (1Q) of 2022, compared to the same period in 2021, despite the global crises, according to Minister of Trade and Industry Nevine Gamea.<\/p>\n

The minister reported the numbers during a meeting on Sunday with Prime Minister Mostafa Madbouly and the heads of export councils\u00a0to discuss proposals\u00a0to double the country\u2019s exports.<\/p>\n

\u201cThis proves the ability of Egypt\u2019s industry and products to withstand global challenges,\u201d Gamea stressed.<\/p>\n

Egypt has already achieved a noticeable increase in the field of exports, but the government looks forward to achieving leaps in exports, read a cabinet statement.<\/p>\n

Egypt\u2019s non-oil exports reached an all-time high of $32.1 billion in 2021, up from the $25.4 billion recorded in 2020 \u2014 an increase of 26 percent \u2014 according to figures released by the trade ministry.<\/p>\n

Madbouly added\u00a0that the government views the current global crisis as an opportunity to work on some tracks, foremost of which is the industry and export sector.<\/p>\n

He also instructed Gamea to prepare with the export councils general worksheets \u2014 one for each council \u2014 on how to double the export rates.<\/p>\n

Furthermore, the PM directed Gamea to speed up the announcement of the available industrial zones, the mechanisms of allocating them by the usufruct system, and the respective payment system, in addition to the necessary procedures to obtain the licenses.<\/p>\n

Madbouly\u2019s directives go in line with the country\u2019s efforts to provide more facilities for investors and raise the private sector\u2019s engagement in the economy to 65 percent within three years, up from the current 30 percent.<\/p>\n

These measures are part of\u00a0a broader plan<\/a>\u00a0Madbouly announced last week to cope with the current global economic crisis resulting from the coronavirus pandemic and Russian-Ukrainian War.<\/p>\n

Additionally, Gamea said that a comprehensive development plan for the system of procedures and services provided by the Industrial Development Authority \u2014 the state body responsible for industrial zones nationwide \u2014 is currently in the making.<\/p>\n

The plan aims to grant more facilities to investors in various industrial sectors in line with the state\u2019s plan to attract more local and foreign investments in the industrial sector with the aim of raising GDP, providing jobs, and deepening local industrialisation, she added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s exports increased by 20 percent in the first quarter (1Q) of 2022, compared to the same period in 2021, despite the global crises, according to Minister of Trade and Industry Nevine Gamea.<\/p>\n","protected":false},"author":4,"featured_media":323755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27,33],"tags":[270],"class_list":["post-325511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-export","category-main","tag-egyptian-exports"],"yoast_head":"\nEgypt sees 20% increase in exports during1Q 2022: Trade minister - egy-africa<\/title>\n<meta name=\"description\" content=\"Egypt\u2019s exports increased by 20 percent in the first quarter (1Q) of 2022, compared to the same period in 2021, despite the global crises, according to Minister of Trade and Industry Nevine Gamea.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/05\/23\/egypt-sees-20-increase-in-exports-during1q-2022-trade-minister\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt sees 20% increase in exports during1Q 2022: Trade minister - 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