PM Ibrahim Mahlab holds meeting on Egyptian exports

The state is keen to enhance exports in the coming period and remove all hindrances that may stand in its way due to their importance in earning hard currency and establishing more projects, Prime Minister Ibrahim Mahlab said.

The premier made the remarks during a meeting he had on Egyptian exports Monday morning with the industry minister, head of the Federation of Egyptian Chambers of Commerce, head of the Federation of Egyptian Industries and representatives of the high council of exports.

The meeting addressed the decline reported in exports during the first months of 2015, attributing it to the political and security challenges in several countries that served as important markets for Egyptian exports, including Libya, Iraq, Syria and Yemen.

The exchange rate of the Egyptian pound against the euro has risen, reducing the competitiveness of Egyptian products in the European market – one of the reasons for the exports’ decline.

The meeting also probed the shortage of energy sources and the lower production of natural gas, adversely affecting energy-intensive industries.

The prime minster ordered holding meetings with ministers concerned with each sector separately to reach quick solutions and boost the size of Egyptian exports.