Monday, July 6, 2020

Egypt seeks to stop importing products


July 5, 2020

 Ministry of Trade and Industry is currently seeking to set a clear and specific mechanism to implement the Cabinet’s decision regarding not to import any product that has a local alternative, in order to support the national industry and reduce the import bill, by relying on the local industry.

 Minister of Trade and Industry, Nevin Gamea, affirmed in a statement Sunday that the current time is appropriate to deepen local industrialization in light of the coronavirus crisis, by removing obstacles facing manufacturers and providing production requirements and matching costs so that the local product can compete with its importing counterpart.

 This came during a meeting held by the Minister of Industry - via video conference - with members of the Egyptian Businessmen Association to discuss the impact of imports on the local industry in the post-coronavirus and how to increase the added value, promote exports and deepen the national industry.

Egypt Today