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Egyptian exports jump by 13% YoY in 10 months

Egyptian exports jump by 13% YoY in 10 months

Arab Finance: Egyptian exports rose by 13% to $29.6 billion in the first 10 months of 2022, versus $26.3 billion in the same period last year, Minister of Trade and Industry Ahmed Samir announced on December 6th.

The ministry has not taken any procedures to block or ban imports as the state adheres to the international rules of trade, Samir added, noting that production requirements for the industrial sector account for 56% of Egyptian imports.

The industrial strategy 2022-2026 is currently being prepared in cooperation with different business organizations and parties, he said, pointing out that the strategy is set to be finalized by mid-January.

The strategy targets developing the Egyptian industrial sector and boosting its contribution to the gross domestic product (GDP), in addition to offering more job opportunities, he explained.

Moreover, the minister stressed the ministry’s commitment to facilitate procedures at the industrial licensing system, adding that it aims to build a solid and flexible sector that can adapt to global changes.

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