The meeting discussed the company’s current investment
projects in Egypt and its plans to double exports to African markets to around
EUR 120 million annually.
El-Sherif stressed the importance of leveraging free trade
agreements with African countries, particularly the African Continental Free
Trade Area (AfCFTA). He highlighted the advantages provided by these
agreements, including customs exemptions that enhance export competitiveness. He
also affirmed the Commercial Service’s commitment to offering full support to
the company.
This includes facilitating increased exports to African,
regional, and global markets in line with Egypt’s efforts to double its total
exports.
Wafiq praised the role of the Commercial Service and its
offices in facilitating Egyptian exports and removing trade barriers. He
especially noted the efforts of the Egyptian Commercial Office in Algeria in
resolving challenges faced by the company’s exports from Egypt to Algeria.
Wafiq also reviewed Saint-Gobain Egypt’s current projects
and future investment plans in the local market. He said the company is
expanding in the field of sustainable building materials manufacturing. He
noted that Saint-Gobain’s investments in Egypt currently stand at about EUR 250
million, with annual exports valued at EUR 60 million.
The company aims to double its exports to EUR 120 million
after the launch of its new factory in Ain Sokhna, which represents an
additional investment of around EUR 200 million.
The meeting was attended by Minister Plenipotentiary for
Trade Alaa El-Baili, Director of the Investment Promotion Affairs Department;
Commercial Counselor Ahmed Badr from the African Affairs Department; and Dr.
Sherif Fahmy, CEO of Engage Consulting.