President El-Sisi Meets with Prime Minister and Minister of Trade and Industry

President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostafa Madbouly and Minister of Trade and Industry Mrs. Nevine Gamea.

The Spokesman for the Egyptian Presidency stated that the meeting discussed the efforts to replace foreign imports with domestic products, expand dependence on local production and provide production requirements for the benefit of national industry.

The President directed that the steps taken to expand dependence on the national industry be maximized in order to bridge the gap between exports and imports and achieve self-sufficiency in local products.

The President added that a comprehensive commodity inventory be prepared for the products that can be manufactured locally and that industrial investment be boosted, combined with the distinguished expertise of the private sector in Egypt. We can also benefit from the expertise of technological research centers to raise the efficiency of local manufacturing, the President expounded.

Mrs. Nevine Gamea presented the indicators of the Egyptian imports since the beginning of the current year 2021 until now. The executive steps taken by the ministry within the framework of the import substitution program to deepen local industrialization and encourage dependence on national industry, in cooperation and coordination with all concerned government agencies. This is done in various industrial sectors, including engineering industries, auto components, home appliances, chemical industries, and plastic products, as well as yarn, textile and apparel industries.

The Minister of Trade and Industry also offered joint cooperation with the Central Bank within the framework of financing programs for import substitution and industry support.

Mrs. Gamea also showcased the Ministry's efforts to enhance joint cooperation with some international donors to contribute to the transfer of production technology and support a number of industrial sectors achieving sustainable development goals, including the United Nations Industrial Development Organization "UNIDO" and the German Agency for International Cooperation “GIZ”. This joint cooperation was forged to develop integrated industrial cities and enhance manufacturing processes for national products that are capable of competing in international markets.