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El-Gamal: Egypt begins to reap benefits of economic reform program

Businessmen Team economy 11 October 2025 09:12 PM
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El-Gamal: Egypt begins to reap benefits of economic reform program

Representative Michel El-Gamal, Member of the Senate and Head of the Electrical Appliances Division, affirmed that Egypt has already begun to reap the rewards of its economic reform program. He explained that the state has launched several initiatives and plans aimed at boosting exports and strengthening competitiveness through expanding international cooperation and participating in specialized exhibitions covering a wide range of economic and industrial sectors. These efforts, he noted, are opening new opportunities for Egyptian exporters.

El-Gamal highlighted that the state’s efforts are clearly reflected in the launch of the National Handicrafts Strategy, announced by the Micro, Small, and Medium Enterprise Development Agency (MSMEDA). The strategy aims to increase Egypt’s handicraft exports to about USD 600 million by 2030. He also pointed to the government’s plans to raise agricultural and food exports to USD 19 billion within the same framework, targeting a total of USD 145 billion in exports in the coming period.

He added that Egypt’s chemical industry exports recorded approximately USD 4.6 billion during the first half of 2025, achieving a 13% growth compared to the same period in 2024. He explained that fertilizers, plastics, and inorganic chemicals top the list of exports by value, and annual exports are expected to exceed USD 10 billion this year, with the European Union being the main destination, followed by Arab countries.

The representative emphasized the importance of aligning efforts with the Economic and Social Development Plan for FY 2025/2026, which outlines clear targets to boost export value and improve its structure through market diversification, promoting manufacturing for export, and localizing value-added supply chains. He also stressed that the plan prioritizes digital transformation in the foreign trade sector and the enhancement of public-private partnerships in export development, reflecting the state’s vision to increase the contribution of exports to GDP and support monetary stability.