Cairo – Mubasher: Egypt’s Export Development Fund approved the new pivots framing the new export support program effective from 1 July 2016, according to a statement by the Minister of Industry and Foreign Trade Tarek Kabil.
The new export program will include seven new axes, Kabil added.
The first axis aims to back domestic manufacturing by increasing the local components and the added-value.
The second axis casts light on developing the country’s export infrastructure, including shipping lines and Egyptian exhibitions in Africa.
The third pivot targets the development of Upper Egypt and border areas, while the ministry is providing 50% of the basic export support to the arena’s factories.
The fourth axis will stimulate exporters for achieving prompt export growth through providing extra fund.
The fifth axis focuses on small enterprises’ exports, supporting junior exporters with 2% on the basic support fund, 60% off the specialized quality certificates’ cost , and 80% of costs in foreign exhibitions.
The sixth axis will center on enhancing access to Africa and other markets, while the seventh one will put an eye on strengthening the quality of industry through acquiring the accreditation of high-profile quality program.
Earlier, the government decided to provide EGP 2.6 billion for the country’s export movement for the second year in a row.
