Egypt announces slew of measures to boost textile sector

The Government of Egypt is reportedly considering to start offering incentives in a bid to attract investment in the domestic textile industry.

The country recently reported a 3 per cent increase in its textile exports to US $ 673 million in the first ten months of 2017. The exports stood at US $ 651 million in the same period last year, reportedly states Textile Export Council of Egypt.

Turkey, at US $ 230.27 million, leads among all the nations that import textile products from Egypt.

Italy comes next at US $ 132.98 million followed by Saudi Arabia and Tunisia at US $ 26.79 million and US $ 21.85 million, respectively.

The country is now taking initiatives to further strengthen the textile sector and incentives will be one such step in that direction.

The textile manufacturing destination has even established industrial complexes for the industry in Kafr El-Dawar City, informed Minister of Industry and Foreign Trade Tarek Kabil.

“There is cooperation among several ministries including Industry Ministry, agriculture and the public business sector for development of textile industry,” Kabil added.

Further, a 2018-2020 national strategy will soon be introduced by the Government for the development of handicrafts and cultural industry. The focus will be on training workers, marketing products in overseas markets, and connecting technicians with the local supply chains to improve the overall efficiency.