Abul-Makarem made this announcement during his participation in the third edition of the annual International Manufacturing Convention and Exhibition (IMCE), organized by the Industrial Modernization Centre (IMC) under the patronage of President Abdel-Fattah El-Sisi.

He also emphasized the council's focus on opening new markets and expanding exports to African and Asian countries, which are considered promising and untapped markets.

In addition, he highlighted the 50 percent shipping subsidy available to exporters.

According to the Trade Map, Egypt exported chemical industries and fertilizers to Spain for $297 million in 2023. Meanwhile, its exports to the Ivory Coast, Ghana, Kenya, and Tanzania recorded $18 million, $7.7 million, $6.4 million, and $2 million, respectively.

Moreover, Abul-Makarem updated the attendees on Egypt’s export performance, revealing that the sector's exports grew by five percent during the first nine months of 2024, reaching $6.5 billion.

He also expected total exports to rise to approximately $8.5 billion by the end of the year.

"The plastics and plastic products sector is the dark horse of Egypt’s exports, with its export value reaching $2 billion during the first nine months," Abul-Makarem clarified. 

Furthermore, he expected the plastic products sector to achieve $2.5 billion in exports by the end of 2024.

Abul-Makarem also pinpointed a remarkable 71 percent growth in the petrochemicals sector, reaching $1 billion in exports.

The council’s efforts to expand exports and strengthen Egypt’s position in the global market reflect its ongoing commitment to boosting the competitiveness of Egyptian industries abroad. Egypt aims to increase its exports to $140-145 billion by 2030.

In related news, Egypt's Chemicals and Fertilizers Export Council, in collaboration with the Export Council for Building Materials, Refractory & Metallurgy Industries and the Egyptian Trade Office in Nairobi, organized a trade mission to Kenya from 4 to 6 October 2022 with around 30 companies participating.

This mission included business meetings to explore market needs and investment laws, field visits, and bilateral meetings to foster agreements.