Egypt has an anticipated growing export potential in
a large number of sectors due to the competitive
advantage in many manufacturing industries and it's
lucrative geographical location. The export
potential is as well vivid in numerous service
sectors including commercial services, especially
tourism, transportation, business services and
professional services.
It is of paramount importance to pinpoint that the
Egyptian trade partners are equally highly
diversified. The major trade partners include the
EU and the USA with shares exceeding 30% and 10%
respectively of total Egyptian exports. Other trade
partners include South East Asia and Arab Countries.
Trade with other developing countries such as those
belonging to the African continent has vastly
increased during the last period.
The Egyptian government’s clear vision is focused on
the future of its exports and is on its comparative
and competitive advantages. The “Egyptian Exports
Development Strategy” documents the government’s
identified plan to achieve its goal of enhancing and
promoting the Egyptian exports during the coming
decade. Impediments preventing exports from
flourishing were transparently and objectively
addressed and, constructive systems to mitigate such
impediments have been initiated.
Ministry of Foreign Trade issued a new law no.55 for
the year 2002 . This law stimulates the competition
of the Egyptian products by resolving the
impediments facing the Egyptian Exports. It focused
on financing the research, marketing and training
centers and facilitating the communication between
the Egyptian exporters and their counterparts in
foreign markets. The new law supports cost
efficiency for exporting to ensure fair
competitiveness for the Egyptian Exports in global
markets.
Additionally, law no. 1283 for the year 2002 issued
by the Prime Minister concerning approved the
establishment of Ministerial Committee to enhance
the competitive ability of the Egyptian Exports.
This committee includes Minister of the Agriculture,
Minister of Foreign Trade, Minister of Industries
and Promoting Technologies, Minister of Finance,
Minister of Transportation and Minister of Civil
Aviation. This law entails resolving all export
impediments through concerned members of committee.
Moreover, a new law is being drafted to unify
different customs system like Tax Rebate, Temporary
Release and Drawback System in one system to
facilitate for exporters their reclamation of
previously paid customs on raw materials used in
manufacturing products for Exports.