By NEWSCOUNT Desk
Egypt is stepping up efforts to increase exports, attract industrial investment and strengthen local manufacturing as it seeks a bigger share of African markets and deeper integration into regional and global supply chains.
Minister of Industry Khaled Hashem disclosed the strategy at a conference organised by the African Export-Import Bank (Afreximbank) and the American Chamber of Commerce in Egypt, where participants examined ways to expand trade, attract technology and improve Africa’s industrial capacity.
Hashem said the government would prioritise private investment, technology transfer and the production of higher-value goods. The plan also seeks to strengthen links between small and medium-sized enterprises and major manufacturers, enabling smaller businesses to participate more effectively in supply chains.
He stressed that increasing local content, improving production systems and investing in technology and skills were necessary to make Egyptian products more competitive in African and international markets.
Egyptian Exporters Association chairman Mohamed Qassem said changes in global supply chains were opening new opportunities for African countries to attract manufacturing investment and technology as companies reconsider where to locate production facilities.
Godfrey Walakira, a senior trade expert at the African Continental Free Trade Area (AfCFTA) Secretariat, said 26 member states had expressed interest in trading under the agreement out of 50 countries that had ratified it. He added that rules of origin had been agreed for 93.7 per cent of tariff lines, allowing eligible goods to benefit from preferential trade arrangements.
Walakira identified West, East and Southern Africa as promising destinations for Egyptian exports but stressed that better infrastructure and transport links were needed to reduce the cost and difficulty of moving goods between African countries. Pharmaceuticals and fertilisers, he said, offered opportunities for regional production networks that could improve access to medicines and support food security.
Saad Sabra, head of the International Finance Corporation’s Egypt office, put Egypt’s trade with other African countries at about $9 billion, with Egyptian exports accounting for 83 per cent and imports 17 per cent. He called for greater sourcing of production materials from African markets to strengthen local manufacturing and increase the value of Egyptian exports.
Sabra also urged improvements to the business and regulatory environment and wider access to private financing, particularly for small and medium-sized enterprises.
The discussions focused on building stronger manufacturing and export links between African countries, with participants stressing the need to turn Africa’s trade opportunities into practical industrial partnerships and increased production.
