Egypt develops the strategy to increase exports by 10-15 per cent in 2024

Egypt's Engineering Products Export Council announced that the sector's exports increased by 10.5 per cent in 2023, reaching approximately US$4.25 billion for the first time in history, compared to $3.84 billion in 2022.

Exports of cables rose 53.2 per cent. Overseas shipments of household appliances rose by 2.5 per cent, vehicles - by 116.3 per cent, while exports of machinery and equipment rose by 67 per cent.

Machinery products will be exported to Europe (Turkey, Netherlands, Germany, Italy, Czech Republic and Spain), Asian countries (Saudi Arabia, UAE, Iraq, China, Oman, Azerbaijan, Bahrain and Syria) and Africa (Libya, Algeria, Sudan, Ivory Coast, Mauritius, Ethiopia and South Sudan).

May Helmy, the head of the Egyptian Engineering Export Council, said that the industry's exports, which exceeded four billion US dollars for the first time in history, are great success for Egyptian companies. It is also the result of the council's efforts to open foreign markets and promote Egyptian products.

She noted that the council had developed the strategy to increase exports by 10-15 per cent in 2024, based on the huge potential of the Egyptian engineering industry. The concept relies on several areas including participation in international exhibitions, as well as organising trade missions and foreign trade weeks. This is reported by Daily News Egypt, a partner of TV BRICS.