Latest news with #ApparelExportCouncil
Zawya
2 days ago
- Business
- Zawya
Egypt sets $12bln target for ready-to-wear garment exports by 2031
Egypt - Abdel Aziz Elsherif, Head of the Egyptian Commercial Service (ECS), met with Fadel Marzouk, Chairperson of the Apparel Export Council of Egypt (AECE), to discuss a comprehensive plan to boost Egyptian exports of ready-to-wear garments and textiles. The meeting focused on strategies to promote sectoral growth, mitigate the negative effects of global trade tensions, and attract foreign investment amid shifting global supply chains. Elsherif noted that a key component of the plan involves strengthening coordination between the ECS and export councils to fully leverage the efforts of Egypt's commercial offices abroad. These offices provide crucial market intelligence, including data on target markets, marketing studies, export requirements, and technical specifications—resources intended to help exporters access new markets more efficiently. The ECS will also facilitate direct engagement between Egyptian officials and major international importers, in addition to supporting promotional missions and participation in global exhibitions. Elsherif emphasized the ECS's role in identifying and communicating high-potential export opportunities, especially in light of current global market disruptions. He highlighted Europe as a key region where Egyptian exports could substitute goods from markets impacted by trade conflicts and supply chain realignments. Fadel Marzouk reported that the sector has already demonstrated strong momentum, with exports from January to June 2025 reaching approximately $1.608bn—up from $1.283bn during the same period in 2024—representing a 25% year-on-year increase. He expressed optimism that this growth trend would continue, with annual export growth projected between 25% and 30%. Marzouk outlined the council's long-term vision, targeting $12bn in exports by 2031. This goal is part of a broader strategy to increase the sector's global competitiveness and attract investment from countries such as Turkey, China, Vietnam, and India. He also underscored the importance of expanding exports to African markets, citing rising demand and consumption in the continent's rapidly growing economies. The meeting concluded with an agreement for the AECE to provide detailed information on Egypt's export-ready production capacities and target markets. This will enable tighter coordination with Egypt's commercial offices abroad to better align promotional efforts and unlock export opportunities in key global markets. © 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
02-06-2025
- Business
- Zawya
Egypt's garment exports surge 22% to surpass $1bln in 4M 2025
Egypt's ready-made garment (RMG) exports soared by 22% during the first four months of 2025, reaching $1.028bn compared to $840m during the same period in 2024, according to the latest report by the Apparel Export Council of Egypt (AECE). The council's data showed a strong monthly performance, with exports in April 2025 alone rising by 25% year-on-year to $223m, up from $179m. March also posted significant growth, with exports increasing by 23% to $254m. The United States remained Egypt's top export destination, with imports totaling $384m between January and April, marking an 11% increase from $345m in the same period last year. Europe followed as the second-largest market, with imports jumping 39% to $259m, up from $186m. Exports to Arab countries grew modestly by 6%, reaching $190m, while exports to African nations (excluding Arab states) recorded the highest growth rate—skyrocketing by 101%. Exports to other global markets also surged by 50%, totaling $190m compared to $127m during the same period in 2024. Fadel Marzouk, Chairperson of the AECE, attributed the sector's robust performance to a combination of improved global demand, a broader export base, and the council's focused efforts to open new markets and diversify demand sources. He emphasized that this growth confirms the effectiveness of the council's strategy, which aims to increase exports by 30–35% annually. Marzouk highlighted that the strong results reflect intensive efforts to enhance the competitiveness of Egyptian apparel. These include training initiatives, support for small and medium-sized enterprises (SMEs), international promotion campaigns, and the resolution of export-related challenges. Looking ahead, Marzouk said the AECE plans to double exports by 2031, targeting $12bn in annual garment exports. This goal will be pursued through expansion into new African and Asian markets, capitalizing on Egypt's preferential trade agreements, and boosting value-added production. Key components of the strategy include modernizing production lines and establishing two new textile and garment cities in Fayoum and Minya. He also stressed the importance of continued government support, particularly through export rebate programs, streamlined logistics, and greater access to affordable financing. These factors, he noted, are critical for strengthening Egypt's export capacity and enhancing its ability to generate foreign currency. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
