Gamea made her statements on the sidelines of the inauguration of Egy Plast Expo (Plastex 2022) in its 18th edition, which is concentrated on plastic and petrochemical industries.
During the same period, fertilizers and chemical industry exports jumped in 2021 to reach $5.9 billion, up from $4.1 billion recorded in the corresponding period in 2020, according to the minister.
Meanwhile, chemical industries topped Egypt’s plasticware exports in 2021 with a total value of $2.7 billion compared to $1.4 billion posted in the same period of 2020, said Gamea.
The minister noted that plasticware industry has become an imperative component of Egypt’s local manufacturing over the past ten years as a result of relying on plastic materials instead of other items like glass and metals.
Accordingly, the productive capacity of between 40 and 60 percent of factories that produce synthetic fibers draws on plastic materials, according to Gamea.
She also pointed out that the government pays greater attention to such industry, which has been reflected through establishing two industrial complexes for tupperware industries in Alexandria that include 442 industrial units.
“The government has been doing significant efforts to support the productive and export sectors amid the ongoing challenges, which contributed to keeping the factories working and export markets as well as aiding exporters to be competitive for the sake of reaching the goal of attaining $100 billion in exports per annum,” Gamea expounded.
Moreover, Gamea pointed to the government initiative of the immediate repayment of exporters’ dues and the new support programme the trade ministry recently approved that aims to back the Egyptian products competitiveness, which both helped the Egyptian exports to record its all-time high of $31 billion during 2021.
“The government shoulders 80 percent of the total cost of products shipping to the African markets among the incentives the support programme provides for the exporters,” Gamea illustrated.
In addition, the government is currently considering new avenues in order to stimulate the local industry and boost Egyptian exports benefiting from the great attention paid by the political leadership to this sector, according to the minister.
Egyptian exports attained a record of $31 billion in 2021; the highest in its history, despite the COVID-19 pandemic and its related repercussions, Prime Minister Mostafa Madbouly said last week.
Under the directives of Egypt’s President Abdel Fattah El-Sisi, the government is working to raise Egyptian exports, one of its main foreign exchange resources, in all sectors.
The 18th edition of Egy Plast Expo is scheduled to close on Wednesday, targeting to receive over 22,000 visitors during four days.
The expo features 340 exhibitors, including 70 local manufacturing and export companies, in addition to 270 foreign companies representing nine countries, including India, Germany, Saudi Arabia, UAE, Vietnam, Switzerland, Turkey, Qatar and China.