Egypt aiming to triple exports to Africa by 2025, says minister

The minister said that Egypt is working on a strategy to increase total global exports to $100bln annually

  
Image used for illustrative purpose. Cranes are seen near the Suez Canal in Port Said, Egypt July 29, 2018.

Image used for illustrative purpose. Cranes are seen near the Suez Canal in Port Said, Egypt July 29, 2018.

REUTERS/Amr Abdallah Dalsh
RIYADH: Egypt is planning to increase exports to Africa from $5 billion a year to up to $15 billion over the next four years, Egyptian Minister of Planning and Economic Development Hala Al-Saeed has said.

The minister said in an interview with Asharq that Egypt is working on a strategy to increase total global exports to $100 billion annually.

Al-Saeed also said that her country is currently studying the needs of the African markets from outside the continent and focusing on Egypt's export-distinct sectors of engineering, textiles, pharmaceuticals and agricultural crops.

These supported Egypt's export growth during the third quarter of 2021.

Egypt is contributing to promoting commercial ties between Common Market for Eastern and Southern Africa member states.

This requires studying competitive factors for competitive commodity prices, including the cost of transportation and trade-supporting logistics networks, the minister said.

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