Egypt's exports of engineering and electronics products surged by 25 per cent to $5.77 billion in 2024, said Minister of Investment and Trade, Hassan El-Khatib on Monday. Minister El-Khatib emphasised that the engineering industries sector plays a crucial role in Egypt's economy, fulfilling domestic market demands while expanding into regional and global markets. The minister made these remarks during his participation in a conference, organised by the Engineering Export Council of Egypt (EECE). The conference, which gathered industry leaders, experts, and government representatives, explored the challenges facing the sector, opportunities to enhance exports, and strategies for achieving ambitious export targets. Minister El-Khatib highlighted the importance of strengthening collaboration between the government and private sector to boost exports and open new international markets. He also stressed that Egypt's engineering sector should take advantage of free and preferential trade agreements with various countries and economic blocs, which provide Egyptian products with favorable access to many global markets. He also outlined the ministry's strategy to foster a competitive investment climate by promoting transparency, simplifying business procedures, and overcoming obstacles to attract both domestic and foreign investments. This aligns with broader efforts to boost Egypt's export capacity and improve its position in global markets. In 2024, Egypt's total exports reached $40.8 billion, marking a 14 per cent increase from the previous year, Minister El-Khatib said, noting that these gains reflect ongoing efforts to enhance Egypt's trade policies and support value-added industries. For his part, Sharif El-Sayed, Chairman of the EECE, expressed optimism about the sector's future. He revealed that engineering exports have seen consistent growth over the past three years, and the council aims to further strengthen this performance by achieving an annual export growth target of 20 per cent. El-Sayyad emphasised that boosting engineering exports is vital for driving economic growth and creating job opportunities. He also pointed to the high global demand for Egyptian-engineered products, particularly in key markets like Europe, Asia, and the Americas, and underscored the importance of maintaining high product quality to sustain this momentum. Attribution: Amwal Al Ghad English
