EGYPT –The Government of Egypt, through the Ministry of Trade and Industry, has intensified efforts to stop the importation of products that have local alternatives, Egypt Today has reported.
The Ministry of Trade and Industry in a statement said that it is currently seeking to set a clear and specific mechanism to implement the Cabinet’s decision regarding not to import any product that has a local alternative.
Egypt’s government said that the move was necessary in order to support the national industry and reduce the import bill, by relying on the local industry.
Minister of Trade and Industry Nevin Gamea affirmed in a statement that the current time is appropriate to deepen local industrialization in light of the coronavirus crisis.
Gamea noted that by removing obstacles facing manufacturers and providing production requirements and matching costs, local products can effectively compete with their foreign counterparts.
Gamea said this during a meeting held by the Minister of Industry – via video conference – with members of the Egyptian Businessmen Association.
The meeting was held to discuss the impact of imports on the local industry in the post-coronavirus era and how to increase the added value, promote exports and deepen the national industry.
Gamea revealed that Egypt is currently preparing to establish a number of electronic commerce platforms with the markets with which trade agreements are linked.
She noted that Egypt was eyeing the African market, which is one of the most promising markets for the Egyptian industry at the present time.
For his part, Chairman of Industry and Scientific Research Committee at the Egyptian Businessmen Association, Majd El-Din Al-Manzalawy, said that the state’s interest in the industry should translate into practical and executive steps.
He also called for the definition of the requirements for the development and advancement of the sector by examining ways to advance the national industry and prepare well for the start of a new stage and phase.
During the meeting, Members of the Association demanded the activation of the role of business councils between Egypt and all countries of the world.
They noted that these councils had a significant impact in supporting trade and industrial relations between Egypt and the countries of the world and were necessary in stimulating Egypt’s industrial sector, post-Covid19.
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