IMF reviews Egypt’s efforts to increase its worldwide exports

IMF reviews Egypt’s efforts to increase its worldwide exports

The International Monetary Fund (IMF) has reviewed Egypt's efforts to increase its exports to global markets and support various productive sectors to face the repercussions of coronavirus pandemic, in addition to its attempts at developing the small and medium enterprises sector.

This came during the IMF mission's video-conference meeting with Minister of Trade and Industry Nevin Game on Friday.

Gamea said that Egypt aims to increase its exports to US$100 billion by implementing a strategic plan to open more markets for Egyptian exports, especially within Europe, Africa and the Arab world.

Several tactics of the export development strategy include raising the competitiveness of the Egyptian industry, providing information and studies on the markets, providing programs and tools for securing and guaranteeing exports, and maximizing benefit from all agencies and entities concerned with export, she explained.

She added that the government has adopted measures to support the export sector to counter the negative repercussions of the coronavirus, including postponing the payment of loans owed by exporters and postponing the payment of state dues on them.

The minister also drew attention to the state's support for workers in factories and an initiative to ease the burden on exporters to pay arrears owed to companies, as it includes