CAIRO: Egypt’s exports to international commercial gatherings increased from 56.9 billion EGP in 2012 to 64.5 billion EGP in 2013, resulting in 13.3 percent increase, the Central Agency for Public Mobilization and Statistic (CAPMAS) reported in its annual bulletin Monday.
The international gathering included COMESA, Economic and Social Commission for Western Asia (ESCWA), Five Ten Group, Developing 8 Countries (8-D), among others. Egypt is considered part of these gatherings.
Egypt’s imports increased to 60.4 billion EGP in 2013 from 58.5 billion EGP in 2012, with a 3.2 percent increase,according to CAPMAS.
For export, animal and vegetable produce topped the first ranks of exported products while fuel and oil productstopped the first ranks of imports.
Egypt’s export for international gatherings “that does not include Egypt in U.N. and North American Free Trade Agreement (NAFTA)” soared to 55.5 billion EGP in 2013 compared to 48.4 billion EGP in 2012, about a14.7 percent.
CAPMAS also reported a 14.8 percent increase in Egypt’s imports at 146 billion EGP in 2013 compared to 127.1billion EGP in 2012.
“The exportation sector is considered one of the core elements for flourishing and rebounding economy and in that regard the government will pave the way to revive this sector,” Minister of Planning Ashraf Al-Arabi said on June 5.
In its developmental plan to flourish the sector, the ministry will put it about 2.6 billion EGP for the 2014-15 new budget, Arabi said. The government will direct the sum to remove some sector obstacles, activate new mechanism to finish exportation measures quickly, and open new horizons for exports by sending delegations.
“Bringing up hard currencies, diversifying state resources of profits, and more investments are the major advantages of the exportation sector, ” Arabi added.
The Export Council is adopting a new strategy to restore Egypt’s Pioneer rule in the region, council member Redda Al-Gergawy told Al-Tahrir TV channel in April. Their strategy includes facilitating finance for exporters, exempting exporters a tangible part of their taxes, raising the quality of products by eliminating the presence of insects.