The Minister of Commerce Eng .Ahmed Samir witnesses Issuance of the first version from Expedition EGYPT POWER SHOW in the electrical industry sector Which is the largest and first buyer mission in the electrical industries sector It includes 35 international buyers from Libya, Nigeria, Kenya, Tanzania, Rwanda and Congo It also represents a platform for communication between exporters and buyers Forging partnerships, diversifying sources of supply and exchanging experiences, which will contribute to concluding major contracts and commercial deals between international companies.
And participated in the launch of the mission Eng / Sherif El Sayad, Chairman of the Export Council for Engineering Industries.
The minister stated that the Expedition is very focused on the African market this is in cooperation between the Export Council for Engineering Industries, the Commercial Representation Authority, and the United States Agency for International Development (USAID) for the success of its first edition.
And Samir explained that the engineering industries sector is one of the most important productive sectors in the national economy Pointing to that the Egyptian market is full of distinguished investment opportunities and ingredients in the engineering industries sector which include The availability of raw materials and qualified manpower, as well as the large incentive packages that the state provides to investors during the current stage.
The minister added that the large consumer market and free and preferential trade agreements signed with a large number of countries and major economic blocs around the world, which allow free access to Egyptian products to a large number of foreign markets.
And The minister added that the engineering industries sector’s exports amounted to about $3 billion and 879 million dollars during the year 2022, and the sector’s exports during the first 5 months of this year amounted to about $1 billion and 681 million dollars.
And the minister also met with a number of buyers and investors participating in the event, and reviewed with them the most important investment and commercial opportunities, the highly popular exports, and opportunities to expand the scope of business.
The engineer Sherif El Sayad, Chairman of the Export Council for Engineering Industries, also said that the electrical industries sector is one of the most promising export sectors.
The sector’s exports during the first 5 months of 2023 increased by 47.5%, to record about $158 million, compared to $107 million during the same period last year, pointing out that the sector’s exports increased by 8.3%, to record $317 million in 2022. In exchange for $ 268 million in 2021, as the mission represents a nucleus for increasing the sector’s exports by no less than 15% next year.
And elsayad explained that the success of( Haats) Expedition in its past four editions since 2019, it prompted the council to organize a large mission in the electrical industry sector similar to Hats, indicating that the Export Council is expanding in targeting all sectors under it with trade missions to achieve the targeted increase in exports.