Last Update 22:46
Thursday, 24 October 2019

EU funds Egypt’s developmental projects at €1.1 billion annually: Trade minister

Egypt’s trade volume with the EU forms about 30 percent of its global merchandise trade

Doaa A.Moneim , Sunday 15 Sep 2019
Closing ceremony of TDMEP (Photo: Doaa A. Moneim)
Views: 1908
Views: 1908

Egypt’s Minister of Trade and Industry Amr Nassar said that the European Union (EU) is one of the most important of Egypt’s partners in the development sector, with the volume of developmental cooperation projects that the EU is funding in Egypt hitting €1.1 billion annually, while Egypt’s trade volume with the EU forms about 30 percent of its global merchandise trade.

Addressing the closing ceremony of the EU-funded Trade and Domestic Market Enhancement Programme (TDMEP) Sunday, Nassar said the TDEMP had contributed to enhancing essential reforms in the Ministry of Trade, which included launching the trade and industry strategy 2016-2020, supporting the industrial licenses law, and determining the priority production sectors in accordance to the Protocol on Conformity Assessment and Acceptance of Industrial Products.

“The programme also paves the way for improving structural strategies in cooperation with the private sector and drafting the national quality strategy for Egypt’s industry,” Nassar stated.

Meanwhile, head of the cooperation sector of the delegation of the European Union to Egypt, Ibrahim Al Afia, asserted that the EU is the main trade partner and investor in most Mediterranean countries.

“TDMEP, which is funded by the EU with €20 million, has achieved tangible outcomes for Egypt’s economy. It is committed to offering technical support for Egypt’s trade ministry, and has contributed in developing an integrated strategy boosting key industrial sectors in Egypt, at the international and regional levels.”

He added that the TDMEP has played a vital role in inaugurating a number of new entities in Egypt’s ministry of trade, like the Export Development Authority (EDA), in addition to improving the Industrial Development Authority (IDA) in the area of enhancing industrial investment.

Head of the Developmental Projects Council in the Ministry of Trade, Sherin Khalaf, said the ministry will start the second phase of TDEMP by 2021. In addition, Egypt has reached an agreement with the EU to provide funds to help prepare for the second phase.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.