Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib participated in the "Exporter's Day" event organised by the Egyptian Exporters Association (ExpoLink), per a Cabinet statement. During his speech at the event, El-Khatib emphasised that his participation in the third edition of Exporter's Day event aligns with the government's support for the "Investment for Export" initiative introduced by the association the previous year. He affirmed that the initiative highlights the complementary relationship between investment and export, as the two pillars of sustainable development and economic growth, the statement added. El-Khatib added that this year's slogan, Made in Egypt – From Local to Global, embodies the state's ambition to strengthen the presence of Egyptian products in international markets and achieve a qualitative leap in export performance. He emphasised the state's focus on exports as a top priority to boost foreign currency reserves and lower the trade deficit. The government aims to increase exports to $145 billion by 2030, necessitating annual export growth rates of over 20 per cent. El-Khatib noted that over the past decade, the state has heavily invested in infrastructure, including cities, ports, and logistical zones, all connected by modern transport networks, which has strengthened export capabilities. The minister stated that a major change in monetary policy occurred in March 2024 with the implementation of a flexible exchange rate, aimed at boosting the competitiveness of Egyptian products. This aligns with fiscal policy changes aimed at easing investor burdens and enhancing the business environment. He also mentioned that the ministry is working to speed up customs release time to just two days by the end of 2025, through extended working hours and the implementation of 29 trade facilitation measures. El-Khatib assured that export burdens will be reimbursed within 90 days under the current programme. A new three-year reimbursement programme, developed in collaboration with export councils and relevant authorities, will be announced soon to support the country's export goals. The minister also revealed an ambitious plan to boost Egypt's presence in Africa by setting up 5 to 6 logistical centres in key countries. He said these centres will help improve supply chain efficiency. El-Khatib highlighted Egypt's potential for export leadership due to its strategic location, abundant resources, and skilled workforce. He urged collaboration between the public and private sectors to develop a manufacturing-based export economy. For his part, Chairman ExpoLink Mohamed Kassem stated that the association has signed several local and international partnership agreements aimed at boosting Egypt's presence in foreign markets. He noted the upcoming expansion into the American and Swiss markets through the opening of representative offices to promote Egyptian products, according to the statement. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
