Egypt exports attempts efforts to improve exports to Turkey, Libya, Sudan
Date
8/29/2024 8:44:21 AM
(MENAFN) On Thursday, the Ministerial Group for Industrial Development in Egypt convened to discuss strategic measures aimed at enhancing the country’s export performance. The meeting focused on improving the flow of Egyptian exports, particularly textiles and garments, to Turkey—a key market that also serves as a gateway to European markets.
A major part of the discussion centered on overcoming obstacles related to customs procedures and the verification of certificates of origin. To address these issues, the group proposed implementing provisions from the free trade agreement to facilitate duty-free access for Egyptian exports. They also considered activating Article 7 of the World Trade Organisation (WTO) Agreement, which provides alternatives to the reference price for imports, as a means to streamline the process.
In addition to the focus on Turkey, the meeting also addressed strategies to boost exports through Egypt’s border points with Sudan and Libya. One proposed measure involves collaborating with the Central Bank of Egypt (CBE) and the Ministries of Finance and Foreign Affairs to establish an Egyptian bank branch at the Argeen Land Border Post with Sudan. This initiative aims to facilitate smoother transactions and enhance trade efficiency. Additionally, the implementation of point-of-sale devices was suggested to further streamline the export process.
For Libya, the group discussed ways to reduce congestion for cargo trucks undergoing inspections at the Salloum land port. Proposed solutions include extending inspection hours, increasing the availability of inspection equipment, and potentially adding new inspection lanes to alleviate delays and improve the flow of goods.
These efforts reflect a comprehensive approach to overcoming trade barriers and enhancing Egypt’s export capabilities, thereby boosting its economic engagement with key regional markets.
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