IFP Group launches new subsidiary in Egypt
Mounir Fakhry Abdel Nour - YOUM7 (Archive)

CAIRO: The IFP Group (International Fairs and Promotions) announced the inauguration of its first subsidiary in Egypt during a conference held late Thursday in Cairo under the auspices of Ministry of Supply and Internal Trade.

In collaboration with Konzept Exhibitions and Event Management, IFP Group announced the launch of the two international commercial exhibitions: Food Africa, for food and drinks, as well as Project Egypt for building materials techniques and environmental protection in Cairo early in 2015.

“IFP Group, through its subsidiary in Egypt, aims to promote Egyptian products across African and Arab countries, in addition to inspiring new collaborations, and facilitating new project partnerships,” said Fady Kaddora, Vice President of International Sales at IFP Group said in his speech at the conference.

“We are reaching out to both the Egyptian and African business community that are looking to promote products across the region,” added Kaddoura.

“We strongly believe that with companies such as IFP setting up shop in Egypt will aid in reinforcing Egypt’s position in the international exhibition map, as the regional hub for cross-border exhibitions to serve Africa and Arab countries in all sectors namely food industries and agriculture as well as building and construction sectors,” Minister of Trade and Industry Mounir Fakhry Abdel Nour said in a statement distributed to reporters during the conference.

Egypt is a member of the Common Market for Eastern and Southern Africa (COMESA), a free trade area with 20 member states, as well as the Agadir Agreement which is a free trade zone between the Arabic Mediterranean Nations. The agreement was signed in 2004 between Jordan, Tunisia, Egypt and Morocco.

The volume of Egyptian exports to Africa during 1st half of 2014 amounted to 4 billion EGP, of which food industries’ sector acquired more than 976 million EGP, according to data from the ministry.

Minister of Supply and Internal Trade khaled Hanafy stated that in the coming period the government, in cooperation with the private sector, will focus on increasing Egyptian products’ competitiveness in local and foreign markets, according to a press statement.

He added that the government aims to become the main channel of access to EU countries and the Gulf region through the Suez Canal. The minister also noted that “Egypt with its powerful infrastructure and trade ports is considered a hub for global and regional businesses looking to expand into African countries.”

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