Egypt's CFEC seeks to raise chemical exports to $6.5bln in 2023

El-Makarem remarked that the council is setting a strategic plan to increase the country's exports of chemical industries, as part of the government's objective to raise exports of various commodities to $100bln

  
Image used for illustrative purpose. A dragline mines for phosphate rock at Mosaic's South Fort Meade Mine in Fort Meade, Florida January 13, 2010.

Image used for illustrative purpose. A dragline mines for phosphate rock at Mosaic's South Fort Meade Mine in Fort Meade, Florida January 13, 2010.

REUTERS/Scott Audette

Cairo - The Chemical and Fertilizers Export Council (CFEC) plans to raise Egypt's exports of chemical industries to $6.5 billion in 2023, compared to $5.2 billion in 2020, the council's Chairperson, Khaled Abou El Makarem, announced.

El-Makarem remarked that the council is setting a strategic plan to increase the country's exports of chemical industries, as part of the government's objective to raise exports of various commodities to $100 billion.

The council's chairperson called for applying a subsidy scheme for the shipping industry, under which exporters obtain a 10% subsidy if the value-added ratio reaches about 80% and a 7% subsidy upon a 70%-60% value-added ratio.

Source: Mubasher

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