Egypt targets over $11 bln in chemical, fertilizer exports by end-2025 - Economy
Speaking at the Seventh Green Economy Forum, Abou El-Makarem revealed that the sector has already achieved a 12 percent growth in exports during the first five months of 2025, nearing the $4 billion mark.
In 2024, the industry recorded approximately $9 billion in exports, accounting for 23 percent of Egypt's total exports that year.
He attributed this performance to Egypt's strategic advantages as a manufacturing hub, including significantly lower labour and financing costs than China or Turkey.
"Egypt's production costs are substantially lower, making locally manufactured goods more competitive on the global market," he said.
The chairman also highlighted a growing interest from Turkish companies, particularly in the chemical, textile, and engineering sectors. Many of these firms have begun leasing or acquiring production facilities in Egypt, drawn by the country's stable investment climate and robust trade frameworks.
'Egypt's trade agreements, especially across the Middle East, provide a unique edge.They allow manufacturers to export under the 'Made in Egypt' label and benefit from preferential treatment in key markets,' Abou El-Makarem stated.
He also highlighted the significance of the US-Egypt Qualifying Industrial Zones (QIZ) Agreement, which enables Egyptian exports to enter the US market duty-free and without quota restrictions. Egypt, he added, faces far fewer US tariffs than many competing export countries.
Abou El-Makarem further emphasized the need for greater coordination across export sectors and praised the government's streamlined support for exporters. He cited an instance in which a customs issue was resolved in just 22 minutes, underscoring the responsiveness of Egypt's trade infrastructure.
'If we want to open new markets and increase exports sustainably, we must export smarter, not just more. Knowledge, technology, and institutional coordination will determine who leads the next phase of global trade,' he stressed.
Egypt targets increasing its annual exports to $115.8 billion by 2030, compared to $40 billion attained in 2024.
Exports represent a key component of the country's hard currency generators, alongside revenues from the tourism sector, the Suez Canal, and remittances from Egyptians working abroad.
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