Egyptian exports rose by 14% in the first quarter of 2018, the trade and industry minister said.
Tareq Qabil said the ministry seeks
to up exports, especially after Egyptian imports plunged in the recent period,
thus reducing trade balance deficit.
The minister made the remarks on
Thursday during a ceremony marking the inking of a cooperation deal between the Industrial Modernization
Center and the Egyptian Export Promotion Center.
Under the deal, researches will be prepared on promising foreign markets where Egypt can boost its industrial exports.
He said the agreement will buttress the ministry's strategy aiming at promoting industrial and foreign trade development by 2020.
He noted that the agreement targets
four main sectors; spinning and weaving, chemical industries, engineering industries and
markets are EU markets as well as Arab and African markets, he said.
executive director of the Industrial
Ahmed Taha, said the one-year agreement will be automatically renewed for the
agreed upon in the deal can be amended, he added.
CEO of the Egyptian Export Promotion Center,
Sherin El-Shorbagy, said the agreement goes in line with the centers strategy
for Egyptian exports sustainable development.