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

Eng. Hassan El Khatib, Minister of Investment and Foreign Trade, held a meeting with Mr. Philippe Isler, the Executive Director of the Global Alliance for Trade Facilitation (GATF) an affiliate to World Economic Forum, the Center for International Private Enterprise (CIPE), and the International Chamber of Commerce (ICC), and his accompanying delegation. The meeting discussed the state’s efforts to enhance trade and investment competitiveness, and the ambitious plan of action so that Egypt becomes one of the top 50 countries globally in trade competitiveness indicators. Eng. Essam El Naggar, president of the GOEIC, participated in the WEF leaders’ meeting and entities concerned with the World Economic Forum.

The Minister emphasized that current efforts have already resulted in reducing the time for products to enter the domestic market from 16 days to 5.8 days, and there is a plant to reach just two days before the end of the year. This has contributed to significantly reducing costs for the private sector through canceling holidays at ports, allowing them to operate every day of the week and even on official holidays, and extending working hours to 6 p.m. instead of 3 p.m. In addition, a comprehensive package of 29 measures was declared in cooperation with the Ministry of Finance to facilitate trade movement and enhance Egypt's global trade competitiveness.

The Minister also reviewed launching the National Trade Policy for the first time, which serves as a strategic direction for trade at the local and international levels, with the aim of promoting trade openness, increasing export capacity, integrating into global value chains, expanding market access, and diversifying exports. He explained that this policy provides a clear and stable business environment for local and foreign investors, supports local manufacturing, and maximizes the added value of the economy.

Al-Khatib also indicated the efforts to improve the business environment, explaining that Egypt is leading the work on the new Business Ready report, the replacement for Doing Business Report, as the most prominent challenges have been addressed and proposed reforms have been communicated to the private sector, most of which can be implemented within just nine months.

In this context, the Minister explained that the new Export Burden Rebate Program represents a smart and flexible tool that responds to the needs of various export sectors. It aims to increase the local component and create motivations for highly complex industries. The program was finalized and announced for the first time before the start of the fiscal year.

Al-Khatib also emphasized that trade and investment are two complementary pillars of the state's economic strategy, as the Ministry unifies efforts and ensures harmony between trade and investment policies, enhancing the competitiveness of the Egyptian economy and maximizing its returns.

Regarding the trade remedies (subsidy, dumping, and safeguards), the Minister affirmed that Egypt has strengthened its role in the trade defense to confront harmful practices targeting the local industry, noting that the number of investigations has been doubled this year compared to last year. He explained that efforts focus on protecting local products from dumping, illegal subsidies, and discriminatory practices, achieving a balance between protecting industry on one hand and ensuring Egypt's international obligations on the other hand.

On their part, the attendees expressed their appreciation for the Egyptian government's efforts for enhancing the business environment and attracting investments, praising the initiatives and reforms implemented and affirming their support for enabling the private sector to effectively contribute to the economic development process within the framework of the strategic partnership with the World Economic Forum. They also agreed to continue coordination and expand areas of cooperation during the coming period.