Latest news with #EgyptianExportersAssociation
Al-Ahram Weekly
21-07-2025
- Business
- Al-Ahram Weekly
Egypt FM in Nigeria for talks on bilateral cooperation, counterterrorism - Foreign Affairs
Egypt's Foreign Minister Badr Abdelatty met with his Nigerian counterpart Geoffrey Onyeama in Abuja on Monday to discuss regional developments, deepen bilateral relations, and enhance cooperation—particularly in the economic and counterterrorism spheres. The visit marks the first stop in Abdelatty's tour of five West African countries. According to Foreign Ministry Spokesman Ambassador Tamim Khalaf, Abdelatty praised the growing momentum in Egyptian-Nigerian relations and highlighted the third round of political consultations held in Cairo in January 2025—the first at the ministerial level—as a reflection of both countries' desire to elevate ties into a comprehensive partnership. Abdelatty also reviewed the current cooperation, emphasizing the need to build on the outcomes of the Egyptian-Nigerian Business Forum in Abuja to boost trade and investment across key sectors, including agriculture, pharmaceuticals, energy, mining, construction, and information technology. The Egyptian delegation included representatives from leading companies as well as from the Egyptian Exporters Association, the Federation of Egyptian Industries, the Egypt Future Agency, the Export Council for Medical Industries, and the Mineral Wealth Authority—signalling Cairo's commitment to expanding economic ties. Counterterrorism cooperation On the security front, Abdelatty underscored Egypt's readiness to share its counterterrorism expertise by providing advanced field training and support for combating extremist ideologies. He stressed the importance of rejecting violence, promoting tolerance, and disseminating moderate Islamic values, while noting the key role played by both the Cairo International Center for Conflict Resolution, Peacekeeping, and Peacebuilding, and Al-Azhar in supporting Nigeria's fight against radicalization. Support for UNESCO candidacy The talks were also attended by Khaled El-Anany, Egypt's candidate for the position of Director-General of the United Nations Educational, Scientific and Cultural Organization (UNESCO). Abdelatty expressed appreciation for Nigeria's support of El-Anany's candidacy during the 47th session of the African Union Executive Council, calling it a vote of confidence in the Egyptian nominee's qualifications and capacity to represent Africa at the UN cultural agency. Development aid and regional issues Abdelatty reaffirmed Egypt's continued support for Nigerian institutions through the Egyptian Agency of Partnership for Development (EAPD), noting that over 570 Nigerians have participated in 260 training programmes offered in cooperation with Egyptian institutions. The two ministers also exchanged views on regional issues, particularly developments in the Sahel, Horn of Africa, Sudan, Libya, and Somalia. Discussions focused on efforts to stabilize West Africa and strengthen joint African action within the African Union framework, in light of growing security threats across the continent. For his part, Onyeama praised Egypt's regional leadership, particularly its efforts in reconstruction, development, and integration. He expressed Nigeria's interest in drawing on Egyptian expertise in infrastructure, technical education, healthcare, and modern agriculture. The ministers concluded by affirming their commitment to closer coordination within international and regional organizations and mutual support for international nominations. During his visit, Abdelatty is scheduled to meet senior Nigerian officials, regional bloc representatives, members of the business community, and Egyptian expatriates. His African tour will continue with visits to Burkina Faso, Niger, Mali, and Senegal. It follows Egypt's active participation in the African Union Executive Council's 47th Ordinary Session, where President Abdel-Fattah El-Sisi and Abdelatty held multiple meetings with African leaders and officials. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
19-06-2025
- Business
- Al-Ahram Weekly
SPIEF discusses promising sectors for Russian-Arab cooperation - Economy
The first day of the St. Petersburg Economic Forum featured a special session that discussed practical experiences and expertise on how Russian businesses can succeed in the Arab world and Africa. The session emphasized the importance of building partnerships based on trust, a good reputation, and an understanding of the specificities of local markets. Ahmed Bourai, Executive Director of the Egyptian Exporters Association, emphasized the need to recognize the diversity of these markets. Bourai identified the most promising sectors for Russian-Egyptian cooperation: textiles and clothing, information and communications technology, furniture manufacturing, chemical fertilizers and plastics, and building materials (granite, cement). He added, "You can never do business in Tunisia or Morocco without a contract. The Middle East is very diverse, and comparing Iraq to other countries is like comparing apples to oranges." Bourai also offered a clear formula for success: "Don't buy fish in freshwater." Be clear about your goals, reach out to the right people, and don't rely solely on the advice of friends or colleagues. Look for someone who won't abandon you halfway. Russian President Vladimir Putin arrived in St Petersburg earlier. The first event on the sidelines of the St Petersburg International Economic Forum is a meeting to discuss economic matters. Putin said:' Our primary and most important task is to improve the quality of life for people, enhance our cities and communities, develop healthcare and education, and address environmental challenges, 'among other priorities. "To work on all this efficiently, we must monitor the situation, observe the macroeconomic trends within our borders, and consider external challenges and the situation in international markets. Based on this analysis, I suggest we discuss the short-term options available to us and potential legislative amendments that could be enacted to adjust and supplement our efforts to develop the economy, social services, regions, and all of Russia." Follow us on: Facebook Instagram Whatsapp Short link:
Zawya
30-04-2025
- Business
- Zawya
Egypt targets $145bln in exports by 2030: El-Khatib
Egypt is committed to scaling up exports to $145 billion by 2030, which requires maintaining annual growth exceeding 20%, Minister of Investment and Foreign Trade Hassan El-Khatib announced during the Egyptian Exporters Day celebration, organized by the Egyptian Exporters Association (ExpoLink). During the third edition of the event, which gathered key business figures, investors, and export sector representatives, El-Khatib said his participation aligns with the government's support for Expolink's Investment for Export initiative, launched early last year. He described investment and exports as the two main drivers of economic growth and sustainable development. This year's theme, 'Made in Egypt – From Local to Global,' reflects the country's goal of expanding its global footprint and achieving a qualitative leap in export performance, El-Khatib said. He noted that exports are central to the state's economic agenda, playing a critical role in boosting foreign currency reserves and narrowing the trade deficit. Highlighting progress made over the past decade, the Minister pointed to major infrastructure investments, including cities, ports, logistics hubs, and upgraded transport networks, as a strong base for boosting export capacity. He also said that monetary policy reforms since March 2024, notably the adoption of a flexible exchange rate, have helped enhance the competitiveness of Egyptian goods. On the fiscal front, the government continues to ease burdens on investors and improve the overall business climate. El-Khatib revealed that the ministry aims to reduce customs clearance time to just two days by the end of 2025, supported by extended working hours and 29 trade facilitation measures. Regarding export burden refunds, he confirmed the current program guarantees payment within 90 days. A new three-year refund scheme will soon be announced, developed in coordination with export councils and relevant agencies to align with Egypt's export ambitions. In terms of expanding African market access, El-Khatib outlined a strategy to establish five to six logistics centers across key countries in the continent. These hubs are expected to streamline supply chains and strengthen Egypt's trade presence in Africa. He concluded by stressing Egypt's strategic advantages, including location, resources, and human capital, and called for deeper public-private partnerships to support a manufacturing-led export model. For his part, Chairman of ExpoLink Mohamed Kassem said the association secured several partnership deals locally and internationally to support Egyptian exporters. He highlighted upcoming expansions into the American and Swiss markets through new representative offices and increased promotional efforts. Kassem also noted the association's collaboration with the African Export-Import Bank to reinforce Egypt's presence in African markets, adding that Egypt's favorable location and trade agreements offer a strong platform for exporters to scale globally. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
15-04-2025
- Business
- Zawya
Egypt's Trade in the Age of US Tariffs: Challenges and Opportunities
Arab Finance: The global trade landscape is undergoing seismic shifts as protectionist policies gain momentum, signaling profound implications for globalization and international commerce. US President Donald Trump's recent tariffs on imports from several countries, including Egypt, exemplify this trend. These measures not only challenge Egypt's export-driven industries but also highlight broader disruptions in global trade cohesion. As experts assess the immediate and long-term implications of these policies, they emphasize the delicate balance the country must strike: navigating the turbulent waters of international trade while adapting to the changing competitive landscape. The Future of Egyptian Trade in a Turbulent Global Market On April 2nd, the US imposed global tariffs ranging from 10% to 50% on its imports from any country worldwide. Egypt faces the lowest tier, a 10% tariff, unless specific goods are exempted or fall under higher tariff categories. This comes alongside existing 25% tariffs on imported steel. Following Trump's new tariffs, Chief Secretary to the Treasury Darren Jones declared the 'end' of globalization. This declaration coincides with a turbulent global trade scene after the announcement. However, it is not yet clear whether this will have a negative impact on Egypt. The President of the Egyptian Exporters Association, Mohamed Qasim, tells Arab Finance: 'Trump's decisions are indeed causing some turmoil in the markets, which could lead to problems in the long term. However, that is not the basis, as we must wait until things calm down and become clearer. For example, after Trump issued these new decisions, he suspended them for 90 days, so we have 90 days to consider the implications, and after that, it is yet to be known.' Meanwhile, Dina Samir ElWakkad, an economics instructor and economist, tells Arab Finance: 'The newly imposed tariffs by President Trump might disrupt global supply chains, leading to increased production costs and inflationary pressures worldwide. For Egypt, which relies heavily on imports for various raw materials and goods, this could exacerbate trade deficits and strain foreign currency reserves, potentially impacting the stability of the Egyptian pound.' When it comes to the 25% tariffs on steel, demand for Egyptian steel exports will not be significantly impacted. Qasim points out that "these tariffs are a burden for all steel-exporting countries; it will not matter from one country to another. If we were competitors without customs—meaning with normal customs—and high customs were imposed on everyone, our competitive position would remain the same and would not change.' However, when it comes to other exports from Egypt to the US, the situation is different. Qasim explains that 'Trump has imposed higher tariffs on others than he has on Egypt. Consequently, countries that compete with us in certain industries, including the apparel industry, which is Egypt's largest export item to the US, totaling $1.2 billion, find themselves in a more challenging position. Therefore, Egypt's competitive position is improving.' ElWakkad argues that 'higher tariffs on competitors could make Egyptian products more attractive in the U.S. market; however, capitalizing on this opportunity requires strategic action. Egypt can enhance its competitive position by investing in improving product quality, ensuring compliance with international standards, and streamlining supply chains to reduce costs.' 'Additionally, leveraging existing trade agreements, such as the Qualified Industrial Zones (QIZ) agreement, can provide tariff advantages. By strengthening partnerships with U.S. importers and focusing on sectors where Egypt has a comparative advantage, such as textiles and agricultural products, the country can increase its market share in the United States,' according to ElWakkad. A Hybrid Trade Strategy for Enhanced Economic Resilience Considering the recent changes and the challenges or opportunities they may offer, there are several measures that need to be implemented. According to Qasim, removing export barriers, improving customs, taxation, and port logistics, and creating a positive production and investment climate are key state actions that can catalyze greater competitiveness. Meanwhile, ElWakkad explains that 'Egypt can mitigate the impact of Western tariffs by strengthening its engagement with regional trade blocs like the African Continental Free Trade Area (AfCFTA) and the Common Market for Eastern and Southern Africa (COMESA). These platforms offer access to new markets and can help diversify export destinations, reducing reliance on Western economies.' ElWakkad continues, pointing out that 'the recent shift towards protectionist policies by major economies indicates a move away from multilateral globalization towards regionalism. In this context, adopting a hybrid approach that combines selective protectionism to safeguard key domestic industries with strategies aimed at export diversification can enhance economic resilience. This balanced strategy allows Egypt to protect its economic interests while exploring new growth opportunities.' The recent US tariff impositions serve as a stark reminder of the evolving and often unpredictable nature of international trade. For Egypt, the immediate aftermath presents a period of assessment and strategic planning. While the direct impact of the 10% tariff may be manageable, the broader implications for global supply chains and the potential for further protectionist measures demand vigilance.
