UAE Business: Egypt plans to double exports to $100bn, create strategic stockpile – Gulf Digital News

UAE Business: Egypt plans to double exports to $100bn, create strategic stockpile – Gulf Digital News

Egypt plans to double its exports to $100 billion in the next three years and create a strategic six-month stockpile of all major commodities to face emergencies, said Mostafa Madbouly, the Prime Minister of Egypt.

In an interview with the Emirates News Agency (WAM), he said: "Today, we witness, through the launch of Industrial partnership for Sustainable Economic Growth, an important day for the peoples of the three countries (Egypt, UAE and Jordan), at a time of unprecedented economic challenges witnessed globally. These challenges reflect the significance of integration and coordination among our countries to secure and provide the main commodities and products our peoples need."

Industrial partnership

Madbouly was speaking after the UAE, Egypt and Jordan entered into an industrial partnership aimed at boosting sustainable growth and exploring opportunities for joint investments in priority sectors, in a move to bolster Arab economic integration.

Madbouly added that the world is today witnessing people suffering from inflation and its huge rates and high prices of various essential goods in addition commodity shortage. Several international institutions had warned of this crisis and its repercussions including outbreak of famines and crises in some countries.

This calls for urgent action worldwide to integrate and benefit from the competitive and