Egypt moves to protect locally made products

Egypt’s Minister of Foreign Trade and Industry Mounir Fakhry Abdel Nour has issued an executive regulation for the preferential protection of goods and products made in the country.His ministry announced the move on Tuesday reiterating that the law, which stipulates that Egyptian components in products should exceed 40 percent, will drive foreign competitors to present the best prices.

Abdel Nour said this regulation hands a ready advantages to qualified Egyptian products.

According the ministry, the regulation, which encompasses many sectors, determines the way of calculating the Egyptian share in manufactured products in percentages.

It also contains the needed procedures to produce a certificate that proves that the manufacturing union has covered this percentage after being certified by the General Authority of Industry Development.