CAIRO - The import of commodities has reached almost $60 billion, and the time has come to look at priorities, since exports have only amounted to $27 billion. This discrepancy requires adjusting. In the light of the fact that imports are entirely random and huge amounts of hard currency are spent on them, a list of imported commodities needs to be drawn up. 60 per cent of goods are imported illegally, which only adds to the confusion. The list should include everything needed in the production process, such as raw materials, tools and other equipment. While investors noted that import regulation could be achieved by adopting quality specifications as well as by boosting the local industry and banning smuggled goods. Economists called for drawing up a list that included luxury items; but they were equally in favour of improving the quality of locally produced commodities. Importers stressed the necessity of bridging the gap between imports and exports and the importance of co-ordination between the Ministries of Industry, Trading, and the Chambers of Commerce and Industry, to draw up a list of basic goods. Otherwise one-sided decisions would be made and not carried out. Hassan el-Shafi', a member of the Egyptian Business Association, noted that the list needed to include such items as factory equipment and fertilisers that would enhance agricultural production. The Government should import raw materials that were not locally available instead of finished products. He added that locally grown wheat was more expensive, therefore it would make sense to import wheat. He also mentioned research showing that the amount of wheat used in baking could be reduced by mixing it with corn flour. According to el-Shafi', Egypt suffered from a lack of hard currency, so drawing up a list of imported goods was definitely a priority. Certain items were not even needed, considering that they were mainly used in the tourism sector, which was bound to go into recession. Mohamed Farag Amer, Head of the Borg el-Arab Investors Association, told Al-Gomhuria newspaper that the main problem with imports was their randomness and that 60 per cent of all goods entered Egypt illegally. Farid el-Tobgi, Head of Vehicle Production at the Federation of Industries, said that regulating all imports could be achieved by reviewing the accords that harmed the national industry. He suggested that local manufacture and production needed to be protected the same way as in other countries. Economy experts stressed that the import of luxury items needed to stop for at least six months to ease the burden on the State budget .They also suggested awareness-raising campaigns motivating people to buy local products. On the other hand, the quality of locally produced goods needed to be improved, so they could compete with imported ones. Sherif Kassem thought it would be better to manufacture tools and equipment locally instead of importing them.
