05 Jan 2022
The Chairperson of the Chemicals & Fertilizers Export Council announced that the chemicals & fertilizers industry accounted for 22% of Egypt’s non-oil exports. Exports of this industry have witnessed astonishing growth of 43% in 2021, reaching USD6.6bn. The E.U. (European Union) received the largest share of these exports at 29% of the total, followed by Asian and Arab countries which received 21% each. The largest importing countries were Turkey with about USD1bn, then Italy with USD450mn, followed by Argentina with 380mn. Fertilizers were the most popular product with USD2.2bn of exports, followed by chemicals with USD973mn, then detergents, paint, and glass.
Egypt’s strategy is to grow these exports by at least 20% every year until 2025 to reach a minimum of USD10bn. This will be achieved through a multi-faceted plan that involves penetrating new markets, especially in Africa, through trade missions and various specialized and general exhibitions. The export council also facilitates business networking between Egyptian exporters and international importers by leveraging their vast industry contacts. On top of that, the government is giving extensive support to exporters through various programs and incentives. Numerous free trade agreements that have been signed also contributed to the growth in exports.
(Source: Daily News Egypt (English), Arab News (English), al-Maal, Mubasher, Amwal al-Ghad, al-Youm al-Saabe, al-Shurouk, al-Watan, Akhbar al-Youm, Sada el-Balad, Masrawy)