Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

In her speech, the Minister of Planning, Economic Development and International Cooperation stressed that export growth is essential to achieving economic stability as part of the government’s efforts to build a competitive economy,As it enhances foreign exchange inflows, and encourages job creation, which are essential for economic growth, Therefore, the government pays great attention to the industrial development file in order to encourage efforts to localize the industry and increase the competitiveness of local products in global markets.

Dr. Rania Al-Mashat explained that the Ministry is working through a clear framework to improve development planning mechanisms, as well as to promote international partnerships to achieve economic development that intersects with all sectors. She added that economic development cannot be achieved without the private sector, and therefore the ministry seeks to govern investment spending to make room for the private sector and increase its participation in development efforts, in addition, the Economic Ministerial Group works through a unified vision to enhance macroeconomic stability, improve public finances, implement structural reforms, and take all measures that work to increase private sector participation.

Al-Mashat added that the Ministry of Planning, Economic Development and International Cooperation always seeks to meet national priorities through the strong relations that bring Egypt together with international partners. Based on national ownership, in order to bridge development gaps in all sectors, as well as encourage private sector growth, the Ministry therefore seeks to maximize the benefit from strategies prepared in partnership with international institutions, to support industrial development and export efforts in Egypt and one of the most prominent areas of cooperation in this field is the industrial development strategy that is being prepared in cooperation with the World Bank.

She expressed her appreciation for the long-standing cooperation between the Egyptian and American governments, especially in light of the efforts of the United States Agency for International Development (USAID), with which we have close relations in various sectors such as education, health, tourism and agriculture, Pointing out that the joint efforts with the US Agency for Private Sector Development in Egypt through the Trade and Investment Promotion Agreement in Egypt (TIPE), through which the Trade Reform and Development Project in Egypt (TRADE) is financed Which aims to enhance the export capacity of small and medium enterprises in selected sectors, and raise the competitive efficiency of Egyptian companies in global markets, thus stimulating sustainable economic growth.

She noted that this project is one of many models through which the Ministry seeks to stimulate export growth through joint efforts with international partners.

She stated that in light of the global challenges facing the world today, Egypt has taken important steps to enhance macroeconomic stability, and in this regard, the Ministry of Planning, Economic Development and International Cooperation, Committed, in coordination with international development partners, to developing the Egyptian economy through three strategic priorities: Strengthening macroeconomic stability, implementing structural reforms to increase the competitiveness of the economy and improve the business environment, and transitioning to a green economy

In another context, the Ministry launched the “Hafez” platform for financial and technical support for the private sector, which aims to facilitate access to support provided by development partners to the private sector, to address the information gap. To enable private sector companies to access development resources and ensure a more coordinated effort to empower Egyptian companies of all sizes.

The Minister spoke about the efforts of GOEIC in approving carbon reduction certificates for exporting companies, and the recent launch of the Financial Regulatory Authority of the voluntary carbon market, stressing that all these efforts are integrated in order to enhance the state's vision and increase the competitiveness of the Egyptian product.

At the end of the opening session, the Minister of Planning, Economic Development and International Cooperation, and the Minister of Investment and Foreign Trade witnessed the signing of a memorandum of understanding between the General organization for Export and Import Control and the Environmental Affairs Agency.