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Ashraf Ghorab, investment expert, vice president of the Arab Union for Social Development for Planning and Economic Development Affairs of the League of Arab States, said that the electronic catalog launched by the Ministry of Business Sector is a promotional induction map for the Egyptian product that will undoubtedly contribute to opening new markets and facilitating the access of our products to foreign markets. And participate effectively in international exhibitions and trade markets, in addition to increasing exports to the target number of 100 billion dollars, according to the directives of the state.
Ghorab added, that the electronic catalog is a map and an introductory platform with all the complete data and specifications of Egyptian products of all kinds in terms of quality, prices and the export capacity of each product, explaining that the export councils were facing some problems related to the promotion of products and the lack of appropriate mechanisms to activate the movement of exports abroad so that companies can To compete in global markets, indicating that the government will benefit from the information on the products on the catalog to open new markets after studying the needs of the countries targeted to increase the volume of exports to them or open new markets in them.
Ghorab pointed out that Egyptian companies will also benefit from this by increasing the volume of production, expanding the volume of business and providing new job opportunities, which will contribute to increasing the gross domestic product and increasing the growth rate. The African Union with activating the free trade agreement, and it is in agreement with the state’s strategy to stimulate the private sector in accordance with the structural reform program.
Ghorab explained that the government has developed a tight plan to increase exports, starting with the national structural reform program that enhances the role of the private sector and aims to increase the industrial sector’s contribution to the gross domestic product by up to 15% in 2023/2024, in addition to reviving the Nasr Company for Import and Export, and also a decision The Minister of Trade and Industry at the Conference of Heads of Investment Authorities will increase subsidizing the cost of air freight to Africa to 80%, which will undoubtedly increase the volume of Egyptian exports.
Ghorab continued, that among the mechanisms is the export support and development program that was launched recently and benefits all companies, in addition to the trade missions launched by the ministry to Central and West African countries, starting next month, explaining that the volume of Egyptian non-oil exports increased during the first five months of the year. The current figure reached 12.3 billion dollars, or 19%, compared to 10.37 billion dollars in the same period last year, according to a statement by the Ministry of Commerce and Industry.