Investment min: Top priority given to increasing merchandise exports to reach $100 bn annually

Minister of Investment and Foreign Trade Hassan al-Khatib said increasing state’s merchandise exports up to 100 million dollars annually is on the the top of the agenda of the ministry.

He added that the merchandise exports could be increased through stimulating export-oriented investments, boosting the competitiveness of the Egyptian product in external markets, opening new markets for Egyptian products, magnifying benefiting from free and preferential trade agreements sealed with several countries and economic blocs, along with utilizing Egyptian commercial offices abroad.

Khatib made the remarks during a meeting with leaderships and bodies, affiliated to the Ministry of Economy and Foreign Trade, to discuss plan of action and vision of the ministry throughout the coming period.

The minister said that a comprehensive plan will be outlined for the sectors of investment and foreign trade to develop a pillar for state’s economic policies.

The coming period would witness further coordination with the business community – including investors, exporters and importers, the minister said, adding that the business community is a key partner in the implementation of the State’s vision toward promoting the investment and foreign trade sectors. 

He added that his ministry will work on activating free trade agreements signed between Egypt and economic blocs across the globe, including the African Continental Free Trade Area (AFCFTA), the COMESA agreement, as well as the ERCOSUR Free Trade agreement.

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