Egypt government to set long-term investment & trade plan

This came during the golden Jubilee celebration of establishing the General Organization for Export and Import Control (GOEIC).

Minister ElKhatib stated that this vision involves several main indicators, including the announcement of Egypt’s investment and trade policies for the next 10 years.

This vision targets production for export purposes and deepening the added value of Egyptian exports, considering the relative and competitive advantages for national industries.

He also noted the adoption of strategies to diversify the economy away from traditional industries.

It is worth noting that President Abdel-Fattah El-Sisi approved the State Ownership Policy Document in December 2023 to raise the private sector's contribution to the economy and increase the volume of investments and exports.

In addition, ElKhatib also stated at the First Conference for Food Industries Exporters in September that Egypt needs to invest $40-50 billion to reach $140 billion in exports with investments in the food industry sector surpassing EGP 500 billion. 

Enhancing the carbon footprint of exports

For his part, Essam El-Naggar, chairman of GOEIC, stated during the conference that the organization has started establishing carbon certificate units and labs to analyze the carbon footprint and measure the decomposition of exported and imported products.

Furthermore, Egypt’s Financial Regulatory Authority (FRA) announced in August that it has finished the regulatory requirements for initiating the first organized market for voluntary carbon emissions reduction certificates.

El-Naggar added that the authority aims to increase and facilitate the flow of Egyptian exports to international markets.

He noted that this aligns with achieving Egypt’s vision and the presidential directives to increase exports to $145 billion in addition to the government programme goals, sustainable development strategy, and Egypt Vision 2030.