Latest news with #KhaledAbouElMakarem
Libya Review
4 days ago
- Business
- Libya Review
Egypt to Build Storage Facility for Chemicals in Libya
The Egyptian Chemical and Fertilizer Export Council (CEC) is considering establishing a storage hub in Libya as part of its strategy to boost exports to Tripoli by 100% within a year. Khaled Abou El Makarem, Chairman of the Council, told Al Arabiya Business that the first phase of the project would cover an area of 8,000 square metres. Abou El Makarem explained that a delegation of Egyptian business leaders specialising in chemical and fertiliser industries visited Benghazi this July to inspect potential sites for a large storage facility. The initiative aims to meet growing demand in Libya's infrastructure and construction sectors, particularly for products like pipes and building materials. 'We consider Libya one of Egypt's key neighbouring markets due to the ease of land transportation and short shipping times. Having ready-stocked products in Libya will significantly support exports to Tripoli. A land bridge will link Egyptian chemical factories to these warehouses for regular supply,' he said. Exports Expected to Reach $550 Million The Council projects that Egyptian chemical exports to Libya could double to around $550 million annually once the storage hub is operational. In 2024, exports stood at $272 million, including $103 million in plastics, $94 million in inks and paints, $36 million in detergents, $15 million in miscellaneous products, $13 million in glass, and $11 million in fertilisers. Abou El Makarem noted that Libya's reconstruction drive is accelerating, with major Egyptian contractors already involved in large-scale projects. He confirmed that the storage hub's capacity would expand in later phases depending on market demand. Supporting Egyptian Firms in Libya The Council plans to assist Egyptian companies operating in Libya through the Export Support Fund and provide marketing and logistical information on Libyan buyers and market dynamics. Tags: Chemical CouncilEgyptExportslibya
Zawya
23-06-2025
- Business
- Zawya
Egypt's chemical, fertilizer exports rise 18% in 4M 2025, reaching $3.14bln
Egypt's Chemicals and Fertilizers Export Council has reported an 18% year-on-year increase in sector exports during the first four months of 2025, with total exports reaching $3.14bn—up from approximately $2.73bn during the same period in 2024. Fertilizers led the sector's performance, generating $961m in export revenue, followed by plastics and polymers at $723m. Petrochemicals ranked third with $602m but recorded the highest growth among sub-sectors, surging 58% compared to the previous year. Turkey emerged as the top importer, purchasing $437m worth of Egyptian chemical and fertilizer products. It was followed by Italy ($396m), Spain ($187m), and Brazil (around $184m). Regionally, the European Union remained the largest export destination, accounting for 42% of total exports. Arab countries followed with 22%, and Asian markets with 16%. Khaled Abou El Makarem, Chairperson of the Chemicals and Fertilizers Export Council, said the divs reflect the sector's resilience and sustained growth despite global economic and geopolitical challenges. He emphasized the need to enhance the competitiveness of Egyptian products and accelerate market diversification—especially in Africa and Latin America. He added that the upcoming implementation of a new export subsidy rebate program in the second half of 2025 is expected to further stimulate the sector, helping achieve the Council's target of surpassing $9bn in total exports by year-end. Executive Director Mohamed Magid echoed these sentiments, highlighting the sector's strong performance as a testament to its ability to maintain momentum under pressure. He noted that the first-quarter results are a positive indicator of the global competitiveness of Egyptian products, despite ongoing regional conflicts and global economic headwinds that have disrupted fertilizer and petrochemical production worldwide. Magid also underlined the importance of developing industrial value chains and expanding specialized industries to further strengthen Egypt's export capabilities and support the state's broader goals for industrial and trade development. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
22-06-2025
- Business
- Daily News Egypt
Egypt's chemical, fertilizer exports rise 18% in 4M 2025, Reaching $3.14bn
Egypt's Chemicals and Fertilizers Export Council has reported an 18% year-on-year increase in sector exports during the first four months of 2025, with total exports reaching $3.14bn—up from approximately $2.73bn during the same period in 2024. Fertilizers led the sector's performance, generating $961m in export revenue, followed by plastics and polymers at $723m. Petrochemicals ranked third with $602m but recorded the highest growth among sub-sectors, surging 58% compared to the previous year. Turkey emerged as the top importer, purchasing $437m worth of Egyptian chemical and fertilizer products. It was followed by Italy ($396m), Spain ($187m), and Brazil (around $184m). Regionally, the European Union remained the largest export destination, accounting for 42% of total exports. Arab countries followed with 22%, and Asian markets with 16%. Khaled Abou El Makarem, Chairperson of the Chemicals and Fertilizers Export Council, said the figures reflect the sector's resilience and sustained growth despite global economic and geopolitical challenges. He emphasized the need to enhance the competitiveness of Egyptian products and accelerate market diversification—especially in Africa and Latin America. He added that the upcoming implementation of a new export subsidy rebate program in the second half of 2025 is expected to further stimulate the sector, helping achieve the Council's target of surpassing $9bn in total exports by year-end. Executive Director Mohamed Magid echoed these sentiments, highlighting the sector's strong performance as a testament to its ability to maintain momentum under pressure. He noted that the first-quarter results are a positive indicator of the global competitiveness of Egyptian products, despite ongoing regional conflicts and global economic headwinds that have disrupted fertilizer and petrochemical production worldwide. Magid also underlined the importance of developing industrial value chains and expanding specialized industries to further strengthen Egypt's export capabilities and support the state's broader goals for industrial and trade development.
