Rashid during his meeting with export councils and industrial chambers

Eng. Rashid Mohamed Rashid ( Minister of Trade and Industry) has declared that he is going to issue some decisions that is related to reinforcing the local manufacturing where a list of factories that are needed to be built for producing the components, materials and designing and manufacturing the production lines will be announced, where several facilities and benefits will be provided for these factories which will be a competitive advantage for the Egyptian products inside and outside.

Mr. Rashid said that these factories come under the implementation of the new strategy in order to promote the local industry and increase the exports.

He also announced that there is now a preparation for signing a number of free trade agreement with MERCOSUR which includes several countries from south America: Brazil, Argentina during this year. there is also an agreement that is going to be signed between COMEA and SADC that will give Egypt the opportunity to have detailed features to access of nearly two-thirds of African countries. In addition to activating the Arab free trade agreement to increase the volume of inter-Arab trade as well as maximizing the benefits of Agadir agreement.

Mr. Gala Zorba (President of Federation of Egyptian Industries has confirmed that announcing such a strategy to double the exports is pride to each producer and exporter because what has been achieved the last 4 years where the exports were doubled from 44 billion pounds in 2005 to 92 billion pounds in year 2009.

Mr. Raed Hesham ( chairman of the export council for home textiles has clarified that home textiles exports was 2,6 billion pounds in 2005 and reached to 3,1 billion pounds in 2009, aiming to be 4,05 billion pounds in 2013.

Moreover, Mr. Adham Nadim ( Executive Director of Industrial Modernization center said that the center is a main partner in achieving this strategy to double the exports during the next four years through series of technical support programs and training that is introduced to the manufacturers .