Eng. Ahmed Samir, Minister of trade and Industry, witnessed the launch of the first version of the mission (Egypt Power Show) Which is the largest and first buyer mission in the electrical industries sector and includes 35 international buyers from Libya, Nigeria, Kenya, Tanzania, Rwanda and Congo, It also represents a platform for communication between exporters and buyers and forging partnerships and Diversifying sources of supply and exchanging experiences Which will contribute to the conclusion of major contracts and commercial deals between international companies.
Eng. / Sherif El Sayad, Chairman of the Export Council for Engineering Industries participated in the launch activities of the mission and a number of ministry leaders.
The minister said that the mission is very focused on the African market and this is in cooperation between the Export Council for Engineering Industries and the Commercial Representation Authority and USAID for the success of the first version of the mission.
Samir explained that the engineering industries sector is one of the most important productive sectors in the national economy that meets the needs of the local market and exports to foreign markets. Pointing out that the Egyptian market is full of distinguished investment opportunities and ingredients in the engineering industries sector, which include the availability of raw materials and qualified labor force and As well as the large incentive packages that the state provides to investors during the current stage, in addition to the large consumer market and free and preferential trade agreements signed with a large number of countries. And the main economic blocs around the world, which allow free access to Egyptian products to a large number of foreign markets.
The minister met with a number of buyers and investors participating in the event, and reviewed with them the most prominent investment and commercial opportunities, the highly popular exports, and opportunities to expand the scope of business.
Eng.\ Sherif El-Sayad, Chairman of the Export Council for Engineering Industries, said that the electrical industries sector is one of the most promising export sectors where, The sector's exports during the first 5 months of 2023 increased by 47.5% to record about 158 million dollars, compared to 107 million dollars during the same period last year, Pointing out that the sector’s exports increased by 8.3%, to record 317 million dollars in 2022, compared to 268 million dollars in 2021; the mission represents a nucleus for increasing the sector's exports by no less than 15% next year
Al-Sayyad explained that the success of the HUTS mission in its past four editions since 2019 prompted the Council to organize a large mission in the electrical industry, similar to HUTS, Pointing out that the Export Council is expanding in targeting all sectors under it with trade missions to achieve the targeted increase in exports.
It is worth noting that the most important export markets for the electrical industries sector in 2022 were Saudi Arabia, France, Oman, Turkey, the United Kingdom, the UAE, Pakistan, Malta and Lebanon.
