Trade – Daily News Egypt https://dailynewssegypt.com Egypt’s Only Daily Independent Newspaper In English Tue, 11 Dec 2018 18:36:44 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Liberalisation of custom dollar rate de rigueur: Mohamed Moeit https://dailynewssegypt.com/2018/12/11/liberalisation-of-custom-dollar-rate-de-rigueur-mohamed-moeit/ https://dailynewssegypt.com/2018/12/11/liberalisation-of-custom-dollar-rate-de-rigueur-mohamed-moeit/#respond Tue, 11 Dec 2018 08:30:29 +0000 https://www.dailynewsegypt.com/?p=683476 If new direction negatively affects non-essential imported product, we will transfer affected product to list of essential products, set its custom dollar rate at EGP 16, we will deal with matter with absolute flexibility

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Egypt’s Minister of Finance, Mohamed Moeit, ståressed that his decision to liberalise the custom dollar for non-essential products and goods is to protect the national industry sector, and to boost the state’s efforts to depend on manufacturing instead of importing.

Moeit informed Daily News Egypt in an exclusive interview that the allegations of some importers that this step has come in response to some businesspersons and manufacturers is completely incorrect. He explained the actual reasons behind taking this decision were to protect the domestic industry, offer more job vacancies, and ensure a fair competition exists between local products and imported ones.

“The economic reforms and its consequences on Egypt’s economic performance and its improvement prompted us to choose such a decision, and this step is a good one in order to boost the economic reforms goals and stimulate the domestic industry for it to become as a main source of national income and to strengthen the confidence in the Egyptian economy”, Moeit stated.

In parallel with this decision, according to Moeit, the ministry of finance has decided to maintain the custom dollar for essential, strategic, standard, and semi-finished products and goods at LE16, thus the purpose is not to increase revenues, but to further develop the Egyptian market.

“To set the custom dollar rate previously at a fixed price was an exceptional condition due to the fact that the Egyptian economy was on its way towards recovery, as the normal step in this case is that custom dollar rate is set according to the announced exchange rate determined by Central Bank of Egypt. So, the market is currently experiencing its natural direction, especially that this is the direction that is applied in all countries worldwide”, Moeit clarified.

Nevertheless, if the new direction negatively affects any listed non-essential imported products, after its practical application, we will transfer the affected product to the list of essential products and set its custom dollar rate at EGP 16. We will deal with the matter with absolute flexibility, Moeit explained.

The ministry of finance took this decision, in coordination with all concerned bodies, depending on a detailed research of the local market, aiming to improve the living standard of citizens, and to stabilise the price of commodities, concluded Moeit.

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Custom dollar, propelling local manufacturing, troubling importers https://dailynewssegypt.com/2018/12/11/custom-dollar-propelling-local-manufacturing-troubling-importers/ https://dailynewssegypt.com/2018/12/11/custom-dollar-propelling-local-manufacturing-troubling-importers/#respond Tue, 11 Dec 2018 08:00:29 +0000 https://www.dailynewsegypt.com/?p=683475 Decision triggered controversy among all concerned bodies

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The ministry of finance has announced that the custom dollar price will follow dollar exchange price set by the Central Bank of Egypt for non-essential commodities, raising it by about 15%, while it remains stable for essential and strategic ones.

The decision that triggered controversy among all concerned bodies, and is one of the consequences of the economic reforms implemented two years ago.

Meanwhile, various other sources considered this step as an important procedure to protect the national industry; whereas others criticised it, describing it as a detrimental process for domestic manufacturing and for the import sector.

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11%, 19% annual increase in non-oil Egyptian exports, imports, respectively in 10M18 https://dailynewssegypt.com/2018/11/26/11-19-annual-increase-in-non-oil-egyptian-exports-imports-respectively-in-10m18/ https://dailynewssegypt.com/2018/11/26/11-19-annual-increase-in-non-oil-egyptian-exports-imports-respectively-in-10m18/#respond Mon, 26 Nov 2018 15:13:28 +0000 https://www.dailynewsegypt.com/?p=682098 Rationing Egypt's imports’ decision negatively affected state’s exports, industry, says Shiha

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Non-oil Egyptian exports increased by 11% year-over-year (y-o-y) during the period from January to October 2018, recording $20.642bn ,compared to $18.551bn during the same period last year, an increase of $2.91bn, according to the latest report received by Minister of Trade and Industry, Amr Nassar, from the General Organization For Export and Import Control.

For his part, Chairperson of the General Organisation for Export and Import Control, Ismail Jaber, said that five export sectors achieved significant growth during the first 10M18 including, books and binders sector, chemicals and fertilisers sector, medical industries sector, textile sector, and the ready-made garments sector.

He said that the largest markets receiving Egyptian exports during the 10M18 were in the United Arab Emirates, Turkey, America, Italy, the United Kingdom, Spain, Algeria and France.

Unfortunately, Egypt’s imports increased by 19% during the same aforementioned period, reaching $57.76bn, compared to $48.45bn during the same period last year, an increase of $9.22bn.

Jaber added that the sectors that recorded an increase in the volume of imports during the first ten months of this year included furniture sector, leather products, garment sector, and the handicrafts sector.


Jaber pointed out that the leading exporters to the Egyptian market during 10M18 included China, the US, Russia, Germany, Turkey, Ukraine, and Saudi Arabia.

Over and above, the non-oil foreign trade in Egypt rose by 16.8% y-o-y during 10M18, amounting to $78.40bn from the beginning of January until the end of October, compared to $67.96 bn during the same period last year, an increase of $11.311 bn.

These indications mean that there is a large gap between Egypt’s exports and imports, despite the fact that the Egyptian government has adopted a number of measures and policies to cut back on imports and reduce the depletion of hard currency, especially following the decision of the former Minister of Trade and Industry, Tarek Kabil, to ban the import of 50 commodities only after registering the factory of the manufacturing country in 2016.

In addition to the decisions of the Central Bank of Egypt (CBE) to reduce consumption, which stipulated that banks have to obtain 100% cash insurance, instead of 50% on imports carried out for the account of commercial companies or government agencies.

For his part, Ahmed Shiha, former head of the importers division at the Cairo Chamber of Commerce, stated that decisions of cropping imports were wrong decisions, as Egypt depends 100% on its exports and industry in a foreign component ranging between raw materials, production requirements, intermediate goods and capital goods.

Therefore, the decision of rationing Egypt’s importing also led to decreased manufacturing and industry in Egypt, and consequently caused decreased exports, confirming that the decision negatively affected Egyptian exports.                  

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Egyptian exports down by 12.2% in August: CAPMAS https://dailynewssegypt.com/2018/11/14/egyptian-exports-down-by-12-2-in-august-capmas/ https://dailynewssegypt.com/2018/11/14/egyptian-exports-down-by-12-2-in-august-capmas/#respond Wed, 14 Nov 2018 21:14:48 +0000 https://www.dailynewsegypt.com/?p=681132 Trade deficit scored $3.95bn

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According to the Central Agency for Public Mobilization and Statistics (CAPMAS) bulletin on foreign trade in August 2018, exports value decrease by 12.2%, falling to $1.98bn during August 2018, versus $2.26bn for the same month of the previous year. This is due to the decrease in the value of some commodities such as garments 19.3%, plastics in primary forms 22.6%, food preparations 5.6%, and carpets 20.1%.

Meanwhile, exports value of some commodities increased during August 2018, versus the same month of previous year such as crude oil by 22.5%, fertilisers by 19.3%, petroleum products by 86.2% , flat rolled iron products by 29.2%.

The CAPMAS added that imports value increased by 0.3% reaching $5.94bn during August 2018, versus $5.92bn for the same month of the previous year, due to the increased value of some commodities such as crude oil by 83.7 %, raw iron and steel by 0.3%, vehicles by 29.2%, and pharmaceutical products by 2.6%.

Imports of some commodities decreased in August 2018, versus the same month of the previous year such as petroleum products by 8.6%, plastics in primary forms by 6.1%, wheat by 31.7%, and meat by 15%.

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Egypt’s trade with world registers $88.93bn in 2017/18 https://dailynewssegypt.com/2018/10/28/egypts-trade-with-world-registers-88-93bn-in-2017-18/ https://dailynewssegypt.com/2018/10/28/egypts-trade-with-world-registers-88-93bn-in-2017-18/#respond Sun, 28 Oct 2018 17:27:40 +0000 https://www.dailynewsegypt.com/?p=679395 Imports at $63.103bn, exports score $25.827bn, UAE tops trade partners

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The size of trade exchange between Egypt and the world in the fiscal year (FY) 2017/18 amounted to $88.930bn, according to the Central Bank of Egypt (CBE). They explained in a recent report that Egyptian imports in that period reached $63.103bn, while exports marked $25.827bn.

According to the CBE, the volume of trade between Egypt and the 14 most prominent trade partners amounted to $52.131bn. It added that exports to these countries reached $16.343bn, while imports stood at $35.787bn.

According to the report, the UAE ranked on top of the list of most important trade partners, with a volume of trade worth $5.822bn, including $3.331bn in imports and $2.512bn in exports. China ranked second with volume of trade reaching $5.7863bn, including $5.4062bn in imports and $380.1m in exports , and the USA ranked third with a trade exchange of $5.0213bn, including $2.9406bn in imports and $2.0807bn in exports, followed by Saudi Arabia with volume of trade worth $4.6246bn, including $3.5887bn in imports and $1.0359bn in exports.

As for Italy, which ranked fifth, the trade exchange was in favour of Egypt. With the total volume of trade worth $4.5096bn, including $1.921bn in imports and $2.886bn in exports. The trade exchange between Egypt and Germany in FY 2017/18 reached $3.9883bn, including $2.9628bn in imports and $1.0205m in exports, while trade exchange with the UK reached $3.8543bn, including $2.132bn in imports and $1.722bn in exports.

Moreover, the CBE said that the Egyptian-Russian trade exchange reached $3.4299bn, including $3.1707bn in imports and $259.2m in exports. The size of trade between Egypt and Turkey amounted to $3.0723bn, including $1.937bn in imports against $1.1353bn in exports.

Switzerland ranked 10th on the list of Egypt’s most prominent trade partners with a trade exchange worth $2.8842bn, including $1.9692bn in imports and $915m in imports, followed by France with a total trade exchange of $2.6368bn, including $1.9928bn in imports and $644m in exports.

According to the CBE, trade between Egypt and India in the FY 2017/18 amounted to $2.6288bn, including $1.4937bn in imports and $1.1351bn in exports, followed by Spain with a volume of trade of $2bn, including $1.2042bn in imports and $796.4m in exports. Ranking last on the 14-country list is Brazil. The CBE said that trade exchange with the Latin American country reached $1.877bn, including $1.7582bn in imports and $118.8m in exports.

The CBE did not name the remaining countries. However, collectively the trade exchange between them and Egypt reached $36.7982bn, including $27.3151bn in imports and $9.4831bn in exports.

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Omega Shipping seeks to increase its business by 54% this year https://dailynewssegypt.com/2018/10/28/omega-shipping-seeks-to-increase-its-business-by-54-this-year/ https://dailynewssegypt.com/2018/10/28/omega-shipping-seeks-to-increase-its-business-by-54-this-year/#respond Sun, 28 Oct 2018 16:34:51 +0000 https://www.dailynewsegypt.com/?p=679362 Fayez Diab, the chairperson of the company, said that his company has managed to increase the rates of its business during the first half of this year despite the decline in agricultural exports during the same period.

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Omega Shipping company for international cargo aims to increase the volume of its business by 54% this year, as a result of the improvement of services on all marine lines to all countries of the world.

Fayez Diab, the chairperson of the company, said that his company has managed to increase the rates of its business during the first half of this year despite the decline in agricultural exports during the same period.

He pointed out that the company has managed to attract new customers to the markets of Russia, Europe, and East Asia, which eventually managed to increase the growth of its business. It is currently seeking to achieve a 54% growth by the end of this year.

He stressed the importance of participating in specialised international exhibitions, whether for shipping companies or exports, because they provide a change to meet new customers in these markets, such as the market of Russia, which consumes large amounts of agricultural products and accommodate even larger amounts and the Egyptian product has a competitive advantage and a good reputation in that market.

He attributed the decline of agricultural products exports during the first half of 2018 to the poor production of summer crops, especially fruits, attributing the growth of the company’s business to developing its services and following up the progress of containers from the moment they leave their place of export to the foreign importer.

Meanwhile, the company provides shipping services to all countries of the world, and mainly relies on land shipping, in conjunction with the inclination of many Egyptian companies to open new markets in the markets of East Asia, Europe, and Latin America, he added, elaborating that the company mainly focuses on shipping agricultural crops in addition to dry products.

He noted that the largest proportion of the company’s business is focused in the markets of Europe, Russia, South East Asia, and Gulf countries. It is available for all countries of the world, especially, with the trade wars and the events happening in the international economy in addition to the change of the export map, all of which pushed the company to look for alternative markets for its products to divide risks between markets.

Regarding the challenges of shipping Egyptian products to the countries of the world, he noted that the increase in internal transport expenditures, as well as shipping, energy and roads are all obstacle before Egyptian exports, especially, that there has been an increase in them over the past three years by more than 100%.

On the other hand, he pointed out the importance of developing the formatting of internal transport and the operations of unloading the trucks that enter ports to help ships exit quickly and make more space for new ships to enter berths instead of causing stacking of vessels. All of this reduces costs, hence, reduces the price of the final product.

He pointed out that companies have faced a major problem in transportation and increase of prices last year as a result of this congestion and the absence of empties to transport containers into ports, in addition to the high cost of transport.

Furtherly, he stressed the importance of coordinating between shipping lines and the port authority to speed up the process of preparing containers and make sure that there are no errors, whereby companies avoid any unpleasant surprises.

  

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Greeno establishes factory to prepare fresh, frozen vegetables https://dailynewssegypt.com/2018/10/21/greeno-establishes-factory-to-prepare-fresh-frozen-vegetables/ https://dailynewssegypt.com/2018/10/21/greeno-establishes-factory-to-prepare-fresh-frozen-vegetables/#respond Sun, 21 Oct 2018 13:30:46 +0000 https://www.dailynewsegypt.com/?p=678364 Company exports 60% of production to Europe, US, Canada, Australia, Arab countries

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Greeno Food Industries plans to set up a new factory to manufacture and process fresh and frozen vegetables next year, with investments of €5.5m.

Mohsen Abu Dahab, chairperson of Greeno Food Industries, said the new factory’s production capacity will raise the company’s total production to seven tonnes per hour and boost its exports.

Abu Dahab pointed out that Greeno is waiting for approval to construct the factory from the Beheira governorate close to farmlands in order to curb costs and maintain quality.

The company signed contracts for the new production lines, adding that implementation will only take six months, following the approval, he explained.

Greeno is currently establishing its latest production lines to manufacture frozen vegetables with investments worth €3m to boost production, indicated Abu Dahab.

The company manufactures and processes artichokes, strawberries, and fava beans, with plans to manufacture new vegetable varieties next year, including okra, green beans, and jute mallow, as production from the third line begins next year, elaborated Greeno’s chairperson.

Abu Dahab added that the company relies on modern production lines instead of manual packaging, in order to apply international quality standards, as mechanisation will raise the global competitiveness of their products, and stimulate competition with Italy and Spain.

Greeno exports 60% of production to Europe, the US, Canada, Australia, and Arab countries, and offers their products through 2,000 feddan.

The company aims to double its exports by next year, and increase employment opportunities to 400 as the new production line begins, revealed Abu Dahab. The company currently has 450 jobs and 1,000 indirect jobs.

Abu Dahab added that Greeno exported 14,000 tonnes of fresh and frozen vegetables this year, and aims to increase that figure by 30% next year.

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50% of Agrofood production is organic, Europe’s weak production strengthens exports: Hegazy https://dailynewssegypt.com/2018/10/21/50-of-agrofood-production-is-organic-europes-weak-production-strengthens-exports-hegazy/ https://dailynewssegypt.com/2018/10/21/50-of-agrofood-production-is-organic-europes-weak-production-strengthens-exports-hegazy/#respond Sun, 21 Oct 2018 12:30:09 +0000 https://www.dailynewsegypt.com/?p=678358 EGP 220m in sales for Agrofood this season

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Agrofood Company achieved sales of EGP 220m this season, compared to EGP 250m last season, marking a 12% decrease.

“Although the volume of exports increased during the current year, the value of products fell at different rates, according to each market and each commodity,” said Salah Hegazy, chairperson of the company.

He explained that Europe’s vegetable production during the last export season in Egypt was good, forcing exporters in Egypt to reduce their prices for competitiveness.

“We expect the opposite int the next export season, especially after the recent climate changes in Europe. These changes impacted the production process in most crops, especially in Russia, which is the most important importer from Egypt,” Hegazy clarified.

The company’s chairperson explained that 50% of the company’s exports are organic crops, and that the company deals with supermarket chains that can provide value-added products.

Agrofood specialises in root crops, mainly potatoes, sweet potatoes, onions, garlic, beets, and carrots, accounting for 70% of the company’s sales.

Moreover, Hegazy indicated that the company’s top export destination is England, which accounts for 60% of the company’s annual exports, followed by Russia with 15%, while the remaining products are directed to the rest of the world’s markets.

The company produces crops according to an agreed programme with foreign importers, he mentioned.

He also added that the foreign market is wide open to Egyptian products. The company exports about 2,500 tonnes of potatoes annually, while orders amounted to about 10,000 tonnes.

The company’s production for the domestic market and exports is from the cultivation of 5,000 feddan, which they aim to double in the coming period to increase annual sales, highlighted Hegazy.

“Egyptian exports have a great development chance, similar to many other world countries, especially the markets of African countries,” explained the chaiperson.

Egyptian products are of global high quality, even against the fierce competition, and despite the rumours about crop quality over the past years, asserted Hegazy.

P.S.: http://www.agrofood.com.eg/

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Blue Valley eyes 20% increase in exports https://dailynewssegypt.com/2018/10/21/blue-valley-eyes-20-increase-in-exports/ https://dailynewssegypt.com/2018/10/21/blue-valley-eyes-20-increase-in-exports/#respond Sun, 21 Oct 2018 12:00:44 +0000 https://www.dailynewsegypt.com/?p=678353 Company's exports reached EGP 55m last season

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Blue Valley for agricultural exports aims to increase its exports by 20% next year, by expanding in East Asia and Romania.

Mohamed Abdel Karim, CEO of Blue Valley, said that the company’s exports reached EGP 55m last season, mostly products of orange, grape, strawberry, kabocha, watermelon, carrots and garlic.

He explained that the return last season was less than the previous season, driven by lower prices in global markets.

The company exports its products to 14 countries, including China, India, Malaysia, Singapore, Indonesia, and Taiwan, with plans to enter three new markets in the coming season, such as Italy, along with increasing exports to Romania and Siberia, added the CEO.

Romania has the largest share of the company’s annual exports, followed by Azerbaijan and Bangladesh. The company is studying the diversification of its markets, in parallel with its exports to Russia dropping by 50%.

Abdel Karim indicated that the East Asian market is now the safest market for Egypt, unlike other markets such as Europe.

Egyptian citrus products have a good reputation, and there is a growing demand for them in East Asian markets. This can be used to increase the exports volume in general, and to compensate for the loss that occurred this year in some products, concluded the company’s CEO.

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Egyptian-Dutch Company for Food Industries pursues expansion in Eastern Europe, Africa https://dailynewssegypt.com/2018/10/21/egyptian-dutch-company-for-food-industries-pursues-expansion-in-eastern-europe-africa/ https://dailynewssegypt.com/2018/10/21/egyptian-dutch-company-for-food-industries-pursues-expansion-in-eastern-europe-africa/#respond Sun, 21 Oct 2018 11:00:35 +0000 https://www.dailynewsegypt.com/?p=678346 More attention should be paid to exports to increase foreign currency income

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The Egyptian-Dutch Company for Food Industries pursuing expanding in Eastern Europe and Africa through its exports of nine major products.

Saed Shaalan, chairperson of the company, said that they allocate 70% of exports to Eastern Europe, while Europe, Africa, and Palestine account for the remaining 30%.

The company exports nine main products: sugar, beans, spinach, chili, parsley, fennel, halawa, tahini, olives, and jams.

The current year’s results are good at the level of exports, and are expected to exceed last year’s results, which amounted to EGP 20m.

Shaalan pointed out the importance of tightening measures over Egyptian exports in the coming period, especially as some companies are misbehaving, which is harming the reputation of Egyptian industries, hence reducing the results of the overarching business targets in general.

International exhibitions are of significant importance for Egyptian products, in order to introduce them to customers abroad, but it is facing a problem which is the lack of interest from Egyptian embassies abroad, who frequently do not attend the exhibitions, therefore downscaling the expected outcome, revealed the company chairperson.

He also pointed out that Egyptian exports were affected by internal and external factors, including sudden economic changes, which affect production expenses, including the demand volume for goods in foreign markets.

Increased external supply and domestic production expenses add financial burdens on companies, which causes the profit reductions and an inability to marketing the products, and maintain customers, underscored Shaalan.

“Because of this, the market is expecting an increase in white bean exports during the current season, after Argentina, the world’s largest producer, imposed duties on its exports, raising the demand for Egyptian products,” he mentioned.

“Export laws must be changed to keep exports from declining, after the current deteriorating situation exports are facing. Despite the fact that they increased last year, however, the increase was not good enough.”

Exports are an important source of foreign currency income, following the downturn in the capability of other sectors in attracting foreign currency, especially tourism, and more attention should be paid to exports in order to increase the dollar proceeds, concluded Shaalan.

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Europe golden opportunity for Egyptian food exports https://dailynewssegypt.com/2018/10/21/europe-golden-opportunity-for-egyptian-food-exports/ https://dailynewssegypt.com/2018/10/21/europe-golden-opportunity-for-egyptian-food-exports/#respond Sun, 21 Oct 2018 10:30:00 +0000 https://www.dailynewsegypt.com/?p=678343 Companies seek to increase customers through exhibitions, adherence to specifications

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The European market maintains a distinguished position among Egyptian food industry exporters. Despite the harsh competition, it remains one of the most stable markets, and offers the highest prices.

Egyptian companies are interested in increasing their interaction with the European market by expanding their participation in international exhibitions, looking for new customers in countries of the EU, and modernising their machines to comply with European standards.

Wael Sharawy, export manager at Nile Agricultural Ind. Co. (AGA), said that European markets are one of the most important markets that Egypt deals with in the export of food industries.

Egyptian food exports to the European market grew by 12% during the first eight months of this year to reach $265m, compared to $233.2m in the same period last year.

Sharawy explained that the company is working in the production of juices and jams of various kinds, and is pursuing to intensify its presence in the EU market through adherence to its standard specifications.

Mango and guava juices are seeing a clear growth in exports to Europe in the last period, particularly concentrates, pointed out the export manager.

He also said that Europe needs products that are low in sugar, unlike Africa which demands high sugar concentrations, hence the company is developing in order to meet the needs of each market separately.

Sharawy called on the local sector to show more interest in packaging according to European standards, to attract more consumers to domestic products.

Europe is more interested in buying food products which are in glass containers and tetra packs, while most Egyptian products are packaged in plastic materials, he pointed out.

He added that the interest in the packaging sector, the supply of production lines according to market needs through injecting more investments and creating a productive environment, will develop into a strong boost and increase the sector’s exports to Europe.

Countries of the EU are considered promising markets for the development of the sector’s exports, especially products such as frozen vegetables and fruits, dried onions, dried vegetables, seeds and fruity fruits, medicinal and aromatic plants, olives, pickles, fruit preparations, molasses, fruit concentrates, and food salt.

Dalia Nabil, export manager at Alex Frost, added that last year the company exported about 1,600 tonnes of vegetables, mostly frozen artichokes, broccoli, and strawberries.

She said that Europe accounts for a good share of the company’s annual exports, adding that they aim to open new markets there, along with its expansion plans in other markets such as East Asia and Mercosur countries.

Nabil noted that the company is also focusing on Russia, being one of the most prominent markets that receives Egyptian food products and frozen vegetables, elaborating that expanding in foreign countries boosts the reputation of the company’s products.

Rabie Abbas, export manager at Herbs Egypt, said that Europe accounts for 28% of the company’s annual exports.

Abbas explained that the company exports about 2,000 tonnes of herbs per annum, and tries to intensify its presence in Europe, especially in Spain and France.

He indicated the need to pay attention to changing the conditions of agriculture in Egypt in order to reduce production costs, therefore enabling the companies to compete internationally and increase their profits.

Increasing profits reflect on expanding businesses domestically as well as on exports, hence, adding value to the economy, remarked Herbs’ export manager.

Presently, the company is in pursuit of increasing its presence in Europe, by visiting several international exhibitions in the coming years, thus meeting more customers, and increasing the volume of new contracts with existing customers, explained Abbas.

Quotes:

12% increase in Egypt’s exports to EU in 8 months

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Gouda For Agricultural Products boosts exports 70% in 2018 https://dailynewssegypt.com/2018/10/21/gouda-for-agricultural-products-boosts-exports-70-in-2018/ https://dailynewssegypt.com/2018/10/21/gouda-for-agricultural-products-boosts-exports-70-in-2018/#respond Sun, 21 Oct 2018 10:00:03 +0000 https://www.dailynewsegypt.com/?p=678341 Company aims to enter new markets including Korea, Philippines, Canada, says chairperson

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Gouda For Agricultural Products (Ezz El-Din Gouda) increased its exports of vegetables and fruits to 65,000 tonnes this year, up from 38,000 tonnes in 2017, marking an increase of 70%.

Hassan El- Elbeshbeshy, chairperson of the company, said that they aim to raise exports by 25% next year, and to enter new markets in Korea, the Philippines and Canada, increasing the number of import countries to 32.

East Asia accounted for 45% of the company’s exports. The company additionally  aims to increase its exports to China, Hong Kong, and Malaysia.

Egypt has succeeded in negotiating the protocol of cooperation with Korea, and is in the final stage to allow imports from Egypt.

Elbeshbeshy confirmed that the company was able to export to China six years ago, and was among the first five companies to export oranges there. The company exported 150 containers last season.

Gouda focuses on major countries in East Asia such as China, Hong Kong, Malaysia, Bangladesh, and India all of which import huge quantities of onions.

El-Beshbeshy suggested the possibility of exporting pomegranates to China, and expected to have a competitive advantage in the coming period.

Europe is the third biggest market for Gouda, especially in terms of citrus products, potatoes, lettuce, and onions. The most prominent European importers are Netherlands, Germany, and England.

The company was among the top 10 exporters of agricultural crops last year, entering into new markets such as Greece, Hungary, and Australia.

Orange accounted for the largest proportion of the company’s exports to the Australian market with about 11 containers, but quantities are limited due to the length and distance of over 40 days by sea.

He added that the company’s exports to Arab countries amount to between 5% and 10% of total exports, which declined last year as some countries banned the entry of Egyptian products, such as the UAE, Saudi Arabia, Oman, Jordan, Kuwait, and Lebanon.

Gouda has succeeded in entering African markets, and exporting to various countries such as South Africa, Uganda, and Tanzania, however, the quantities were limited, which does not fully exploit the potential in these markets.

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Orient Group achieves $30m exports 8 months: chairperson https://dailynewssegypt.com/2018/10/21/orient-group-achieves-30m-exports-8-months-chairperson/ https://dailynewssegypt.com/2018/10/21/orient-group-achieves-30m-exports-8-months-chairperson/#respond Sun, 21 Oct 2018 09:30:48 +0000 https://www.dailynewsegypt.com/?p=678331 Company directs 80% of its production to local market, 20% for exports, says Al-Masri

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Hisham Al-Masri, the chairperson of Orient Group’s Board of Directors, said the company had achieved $30m in exports during the first eight months of 2018, and exports are expected to rise to $42m before the end of the year, compared to $35.5m last year.

Furthermore, Orient Group aims to increase its exports by 18% this year by expanding into new markets in East Asia.

Al-Masri emphasised the company’s efforts to strengthen its presence in East Asia, especially Indonesia, Singapore, Thailand, Vietnam, China, and South Korea.

He explained that East Asian countries’ main imports are; dates, oil crops, and spices, adding that agricultural crops also have a good opportunity there.

Orient Group owns two factories for date manufacturing and packaging with a capacity of 50,000 tonnes, however actual current production capacity currently is below 20%, remarked Al-Masri.

Moreover,  the company’s chairperson added that the company is considering importing dates for domestic packaging, followed by re-export, despite the high import expenses.

The company directs 80% of its production to the local market and 20% for exports, he indicated.

Orient Group’s main markets are East Asia, Russia, South Africa, Eastern Europe, and Arab markets, led by Syria, Palestine, Iraq, and Yemen.

Al-Masri praised the new export system approved by the Ministry of Agriculture and considered it as a good step to improve the Egyptian producer’s reputation.

The Ministries of Industry and Agriculture announced the system of encoding agricultural crops for export and included grapes, guava, pomegranate, and pepper.

The system aims to raise the amounts of Egyptian crops in the markets they target, by adhering to the quality factors and specifications required in each market.

Orient Group is an Egyptian joint stock company, founded in 2004 in Alexandria, and serves as a major player in the import and export of a wide range of agricultural food products, finished goods, and raw materials.

The company has expanded to 25 countries around the world, and established liaison offices and subsidiaries in the US, Europe, the Middle East, North Africa, Southeast Asia as well as South Africa.

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Whiteland sales expected to score EGP 290m https://dailynewssegypt.com/2018/10/21/whiteland-sales-expected-to-score-egp-290m/ https://dailynewssegypt.com/2018/10/21/whiteland-sales-expected-to-score-egp-290m/#respond Sun, 21 Oct 2018 08:30:33 +0000 https://www.dailynewsegypt.com/?p=678327 Company invested EGP 15m to boost production to 31,000 tonnes, says Al-Mashhad

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Whiteland Food Industries’ sales is expected to rise up to EGP 290m by the end of this year, down from EGP 295m last year.

Said Al-Mashhad, chairperson of the company, said they will not be able to achieve the targets of the current year on the sales level, driven by lower sales in the local market so as to increase exports.

The company has been attempting to achieve a 25% sales increase during the current year, up to EGP 369m.

Al-Mashhad explained that the company has increased export allocations from its production to 45%, compared to 35% last year, and reduced the proportion of products in the domestic market from 65 to 55% in 2017.

Sales in the local market are becoming increasingly difficult, as the financial burden on citizens has increased across all products and services, he indicated.

Whiteland Food Industries witnessed weak sales growth in the domestic market in 2018, ranging only from 10 to 12%, down from an average of 30%.

The size of the company’s production in 2016 did not exceed 17,000 tonnes, where the company invested EGP 15m to boost production to 31,000 tonnes, Al-Mashhad mentioned.

He added that the company was able to sign new contracts in the East Asian markets during the current year, most notably Pakistan and Thailand, which has supported the increase in exports, as well as the expansion of markets which it used to export to in recent years.

Whiteland exported to about 12 different Arab countries, the most important of which are Saudi Arabia with about 12% of the total exports, followed by Iraq, Kuwait, Lebanon, and Jordan.

Al-Mashhad highlighted a change in the company’s export map in 2018, with Saudi Arabia ranking first in the list of customers instead of Iraq last year, after the drop in orders by the latter following the 45% fee imposed on Egyptian cheese.

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Green Fields exports register $4.2m in 9 months https://dailynewssegypt.com/2018/10/21/green-fields-exports-register-4-2m-in-9-months/ https://dailynewssegypt.com/2018/10/21/green-fields-exports-register-4-2m-in-9-months/#respond Sun, 21 Oct 2018 08:00:09 +0000 https://www.dailynewsegypt.com/?p=678321 Exports account for 40% of company's annual production

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Green Fields’s exports amounted to $4.2m in the first nine months of this year. The company aims to increase its exports in the coming period, and enter new markets in North Africa.

Maher Muharram, the company’s export manager, said they plan to boost exports to $6m by the end of this year.

He added that the company has recently carried out expansions in some of its production lines such as a production line of processed cheese, in order to raise monthly production capacity from 300 tonnes to 400 tonnes.

Green Fields also expanded in cream cheese production lines for smaller packages, ranging from 100 to 200 gm, apart from to the large 6 kg containers. The company set up a new production line for mozzarella cheese, with a monthly capacity of 200 tonnes.

Muharram explained that the company exports its products to the Gulf, including Saudi Arabia, Kuwait, Bahrain, Iraq, Yemen, and Libya, as well as a few African countries such as Angola, noting that exports account for 40% of the company’s annual production.

The company aims to expand its exports in North and East African countries, and resume its exports to the Jordanian market, following last year’s suspension due to the new specifications that Jordan set, which required printing on packages. 

Green Fields has five production lines for cheese with a monthly capacity of 600 tonnes, along with a a monthly production line of 500 tonnes of white cheese.

Moreover, the company has a monthly 600 tonnes cream cheese production line, a monthly packaging line of 700 tonnes and the production line of mozzarella cheese.

Muharram stressed the importance of attending international exhibitions, and said that the company looks forward to participating in major exhibitions, including the Sial, Anuga, and Gulfood exhibits.

He also indicated the company’s enthusiasm to expand in foreign markets, either through exhibitions or through promotional missions carried out by export councils.

Muharram demanded that the Export Development Authority increase its support to other exhibitions, and not limit its support towards major exhibitions. There are exhibitions in other countries such as Africa, where the exporter bears the participation’s full expenses.

Participation in promotional missions allows export companies to identify foreign markets, competitors, and competing products in these countries in order to support the development of domestic production export companies, concluded Muharram.

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EGAST eyes 30% growth in sales to Europe this season https://dailynewssegypt.com/2018/10/21/egast-eyes-30-growth-in-sales-to-europe-this-season/ https://dailynewssegypt.com/2018/10/21/egast-eyes-30-growth-in-sales-to-europe-this-season/#respond Sun, 21 Oct 2018 07:30:36 +0000 https://www.dailynewsegypt.com/?p=678324 Company invested EGP 250m for packhouses, cold stores, with 300 tonnes daily capacity, to propel exports worldwide

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EGAST for agricultural crops is aiming to increase its sales to Europe this season by 30%, up from 1,500 tonnes in the last season. The company’s exports to the rest of the world amounted to 80,000 tonnes.

According to Mohamed Deghedy, EGAST export manager, the European market for fresh fruits and vegetables is a target market for Egyptian suppliers, based on high popularity and high demand, as well as the premium prices. However, it is a very mature market that is well controlled by legislation and certificates, according to the company.

“For our group of companies “EGAST”, we have been in the EU market for numerous years supplying its various countries with our choice fruits and vegetables. EGAST supplied about 15,000 tonnes last season to Greece, Holland, Italy and Poland, who received potatoes, onions, and oranges. In addition, our exports to the Asian market, Russia, Fareast, and Arab counties were estimated at 80,000 tonnes, and we plan to increase our volume by 30% especially to the EU market during the coming season 2018/19,” said the company’s export manager.

For this purpose, EGAST is expanding its factory, as they planted 2,500 feddan for citrus varieties valencia oranges, Murcott mandarin–sweet orange hybrid, and lemons. They also increased the planted area for potatoes to 14,000 feddans, all in the most appropriate soil for each product, to guarantee perfect production and quality, indicated Deghedy.

This comes is in addition to EGAST’s new investment of EGP 250m for citrus packhouses and cold stores, with a daily capacity of 300 tonnes as a priority, which will propel the company’s exports worldwide, according to EGAST’s export manager.

EGAST participate in the Madrid exhibition, as they believe in the positive role of exhibitions, and B2B meetings, which promote and market the company’s, concluded Deghedy.

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Exports reached $1.88bn in 8 months, says food export council https://dailynewssegypt.com/2018/10/18/exports-reached-1-88bn-in-8-months-says-food-export-council/ https://dailynewssegypt.com/2018/10/18/exports-reached-1-88bn-in-8-months-says-food-export-council/#respond Thu, 18 Oct 2018 14:00:02 +0000 https://www.dailynewsegypt.com/?p=678125 Food exports to Europe market grew by 12% from January to August 2018, recording $265m

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Exports of food industries during the first eight months of this year reached about $1.88bn, 53% of which went to Arab countries.

Manar Nasr, CEO of the Food Export Council, said that the council regularly identifies the most important target markets, which will increase the exports of the sector, and coordinate with the commercial representation offices to identify the most important specialised exhibitions that can be included in the council’s plans.

She added that the council also provides training courses for member companies, in cooperation with the German-Arab Chamber of Industry and Commerce, and the various export councils, to identify the successful participation in international exhibitions, in terms of selecting the appropriate exhibitions, how to choose the products to be displayed, and factors affecting the exhibition’s success.

She noted that in parallel with participation in international exhibitions, the council has several promotional missions, and receives delegations from different countries. It is currently studying promotional missions to 10 countries in Africa, Asia, Latin America, Uganda, Rwanda, Cote d’Ivoire, Senegal, Brazil, Morocco, Malaysia, Indonesia, Poland, and Kenya.

The Council also received delegations from Iraq’s Kurdistan, Libya, Yemen, Lebanon, and Kenya this month, and bilateral meetings were held for representatives of those delegations at the headquarters of the Food Export Council with companies engaged in products of interest to importers.

The exports of the Egyptian food industry during the period from January to August 2018 amounted to about $1.88bn, the Arab countries accounted for the largest share of them at about 53% of total exports, followed by European countries by about 14%.

Saudi Arabia is the world’s largest importer of Egyptian food products during the first eight months of 2018 with a value of $192m, followed by Libya with $118m.

She stressed that the council aims to expand in a number of current markets, and enter new markets during the coming period, most notably England, America, Holland, Poland, Germany, Yemen, Brazil, South Africa, Australia, Russia, Kazakhstan, Eritrea, Indonesia, Malaysia, Spain, South Korea, Syria, and Jordan.

Exports of cola concentrates came in first place in the list of products at about $236m followed by sugar and frozen vegetables, excluding strawberries and cheese.

This year, 82 Egyptian food companies are taking part in the Sial Paris exhibition, on an area of 1,300 sqm, divided into four showrooms.

Nasr said that Egyptian participation varies between the food industry and agricultural products of frozen and dried vegetables and fruits, and products from various food preparations such as baked goods, breakfast cereals, juices and concentrates, pickled olives, olive oil, tomato sauce, desserts, dairy products, and other products.

She stressed that the Sial exhibition is one of the most important exhibitions in the field of food products, which deals with business activities, imports and exports, finding the right source, selecting the right investor, or the food service companiy, as well as the exchange of mutual interest in food.

France is the fifth largest importer in the European Union for food industries from Egypt, as food exports to the French market have achieved a growth rate of 30% last year.

The Food Export Council, in cooperation with the Commercial Representation Office in Paris, promoted Egyptian companies involved with their French counterpart. Several major importers were also invited to visit the Egyptian pavilion during the exhibition.

Food exports to the European market grew by 12% during the period from January to August 2018, recording $265m.

Spain is the fourth largest importer of Egyptian food products during the same period, with a value of $30m, followed by France with $23m.

The European market is a promising market for the sector’s exports, especially for products such as frozen vegetables and fruits, dried onions and dried vegetables, seeds and fruiting, medicinal and aromatic plants, aromatic olives, pickles, fruit concentrates, molasses, and salt.

Nasr said the council includes 400 companies that account for 90% of the sector’s exports, while about 3,000 companies export food products.

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Daltex target 15% increase in exports this season https://dailynewssegypt.com/2018/10/18/daltex-eyes-15-increase-in-exports-this-season/ https://dailynewssegypt.com/2018/10/18/daltex-eyes-15-increase-in-exports-this-season/#respond Thu, 18 Oct 2018 13:00:22 +0000 https://www.dailynewsegypt.com/?p=678110 Export from oasis farm to begin this year, European market most attractive for exporters, says Tawfik

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Export from oasis farm to commence this year, European market most attractive for exporters, says Tawfik

El Wadi For Agricultural Development & Land Reclamation (Daltex) aims to achieve a 15% growth in exports this season by expanding it’s current exisiting markets and invading new ones.

The company’s Commercial Director, Ahmed Tawfik, said they will begin exporting potatoes from the oasis farm this season, after cultivating 5,000 – 7,000 feddan from 20,0000 feddan obtained by the company last year.

He pointed out that the company is exporting a number of products, mainly potatoes and citrus, accounting for 70% of Daltex’s exports.

In European markets, Tawfik he said that it is the most important for agricultural crops, due to several factors such as its proximity, stable prices, and guaranteed payment.

The European market is not difficult, but it needs an exporter who is committed to specifications and delivery dates, stressed Tawfik.

He also pointed out that the company utilize their external offices, half of them in Europe, which contribute to exporting 70% of the company’s products.

The commitment of exporters in Egypt to the specifications and supply schedule required by Europe stimulates the latter to buy products at good prices, but in some seasons where the supply is more than the demand, Egyptian growers are forced in exporting larger quantities than needed, which cuts prices, added the company’s commercial director.

He stressed that communication with the importers is the key to success on all aspects of the operational and logistical process, if exporters cannot supply according to the agreed schedule, then alternatives must be given to maintain confidence.

One of the most important advantages of the European market is the stability of supply and in general the price agreements so the exporter could estimate the returns upon loading with little variances between 5-10% , adding that the company supplies to most major retailers globally in different continents, mentioned Tawfik.

Additionally, he also pointed out that markets such as the Gulf area, Lebanon, Greece, and Russia are operating based upon weekly agreements, unlike some the European/Asian markets, which are still new and can absorb larger quantities of Egyptian products.

Egyptian companies started to export to the Chinese market directly only three seasons ago, despite having a cooperation protocol between both parties 12 years ago which was just set and ready lately, the Chinese market needs good understanding of the consumer behaviour and quality is the main target to succeed in the Chinese market, protocols must be followed, noted the commercial director.

Furthermore, Egyptian companies began providing products according to the required specifications by the Chinese market, especially citrus, which increased to 120,000 tonnes from 5,000 tonnes two years ago, he added.

Citrus exports season top the list of Egyptian agricultural exports in volume exceeding 1.5m tonnes, ranking second only after Spain in 2017.

Tawfik stressed the need to face the phenomenon of decreasing prices by some Egyptian exporters to export large quantities at lower prices, which affects the reputation of Egyptian products, and makes them cheaper than their actual value.

He indicated that the main reason for this phenomenon is the problem facing companies in marketing their products, and here, the state must provide more support through commercial representation offices abroad.

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Herbs Egypt exports 2,200 tonnes per year https://dailynewssegypt.com/2018/10/18/herbs-egypt-exports-2200-tonnes-per-year/ https://dailynewssegypt.com/2018/10/18/herbs-egypt-exports-2200-tonnes-per-year/#respond Thu, 18 Oct 2018 12:30:16 +0000 https://www.dailynewsegypt.com/?p=678107 Equipment to be changed in H2 2019: Abbas

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Herbs Egypt exports 100% of its production abroad, said Rabie Abbas, export director, adding that that the company exports 10 types of dried herbs.

The company, Abbas said, plans to change its equipment in the second half (H2) of 2019.

He explained that the production volume ranges from 1,600 to 2,200 tonnes per year, all of which is channelled to Latin America, European countries, and some Arab states.

Abbas pointed out that his company targets all European countries, Africa, and Arab countries through their participation in the new edition of the Sial exhibition.

The company is planting a number of crops, both in its land or through leasing others’ lands, and is plans to expand in the agriculture process, said the export director.

Abbas elaborated further, saying that the company plans to change its plant machinery during H2 of 2019.

He pointed out that there are several challenges facing the company, the most important of which are some defects in the local agriculture operations and production chains, as well as packaging and transport.

International exhibitions are an important opportunity for local companies, as they help them to be directly present with those who want to buy without effort, he highlighted.

Abbas stressed the importance of exhibitions for the state, as it aims to earn more foreign currency and should support the export sector and make it a priority, by encouraging companies to participate in exhibitions as they are the only outlet for them to introduce themselves to the world.

He called for the need to support exhibitions, as well as supporting local industries by introducing the Egyptian pavilion.

Abbas said that the Sial exhibition is the second largest in the world after the Anuga in Germany.

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Al Nada for Food Industries aims to enter East African, Arab Gulf markets https://dailynewssegypt.com/2018/10/17/al-nada-for-food-industries-aims-to-enter-east-african-arab-gulf-markets/ https://dailynewssegypt.com/2018/10/17/al-nada-for-food-industries-aims-to-enter-east-african-arab-gulf-markets/#respond Wed, 17 Oct 2018 14:37:15 +0000 https://www.dailynewsegypt.com/?p=677929 New export subsidy system rewarding, as government intends to support companies to enter new markets

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Al Nada for Food Industries targets to enter the East African and Arab Gulf markets in the coming period to compensate its exports’ 40% decline this year.

The company expected that its exports will fall to EGP 30m this year, down from EGP 50m last year, affected by the recent increase in production inputs’ costs.

The company’s Export Director, Ahmed Oraby, said the company aimed to increase its exports during 2018 by EGP 20m, to reach EGP 70m, but recent challenges hindered this plan.

Oraby pointed out that the company’s sales declined in the local market this year, driven by the price hikes amounting to 30-35%. Packaging costs also increased significantly in 2018, not to mention the hikes in electricity, water, and transportation charges.

Exports account for 30% of the company’s annual sales, adding that the company has taken several investment steps in the last period, which will increase its market value at the local market, Oraby remarked.

Furthermore, the export director pointed out that the company imported a production line of packing and packaging tools at a cost of EGP 22.5m, with a capacity of 14 tonnes per day. The new production line started operation this month.

The new unit will contribute towards reducing the company’s production costs, allowing it to compete locally and externally through presenting better price offers, he noted.

Founded in 2010, Al Nada owns a factory with five production lines outputting 20 tonnes of juice per day, and 1 tonne of tomato paste. The company has three brands: Nadoo, Yooka, and Al-Nada.

The company seeks to install two filling lines of tomato paste, ketchup, and jam, with a capacity of 1 tonne per day.

Oraby highlighted that the new export subsidy system will be rewarding, as the government showed its intention to support companies to enter new markets.

The African markets account for 40% of the company’s exports, especially Mauritania, Kenya, South Africa, and Uganda. The company also entered the Arab Gulf markets, and plans to expand in East Africa. Al Nada also considers opening a new office in Kenya.

Al Nada presents three products: tomato paste, ketchup, and several types of juices in multiple sizes to meet the needs of consumers locally and abroad.

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MRM Group achieves $2.9m of exports in first nine months of 2018 https://dailynewssegypt.com/2018/10/17/mrm-group-achieves-2-9m-of-exports-in-first-nine-months-of-2018/ https://dailynewssegypt.com/2018/10/17/mrm-group-achieves-2-9m-of-exports-in-first-nine-months-of-2018/#respond Wed, 17 Oct 2018 14:26:56 +0000 https://www.dailynewsegypt.com/?p=677926 Company considers establishing refrigerators, silos with investments of $2m in 2019

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MRM Group for Agricultural Crops achieved exports of $2.9m in the first nine months of this year, and plans to reach $4.1m at the end of December, an increase of 15% compared to last year, when it reached $3.5m, according to the company’s chairperson Mahmoud Al-Walily.

Al-Walily said that the company is considering injecting $2m in investments to purchase grain storage refrigerators with a storage capacity of 2,500 tonnes, along with the construction of new silos for grains with a capacity of 10,000 tonnes in the next year.

The company aims to enter new markets this year, most notably the EU and Ukraine markets, along with the markets of Morocco, Algeria, Bulgaria, Turkey, and Greece, pointed out Al-Walily.

In addition, he explained that Arab countries are the largest importers of the company’s dried agricultural products, benefiting from the customs duty exemption under the Great Arab Trade Agreement (GATA).

Al-Walily also said that about 40% of the company’s production goes towards exports, revealing that they aim to increase this ratio to 60% of total production in the coming period.

MRM has four subsidiaries: Al-Magd, Al-Reyada, Al-Rowad, and Al-Mahmoudia.

The group has a rice milling and packing line with a capacity of 20 tonnes per hour, and a terminal for packing broad beans with a capacity of 50 tonnes per day.

The company also exports dry grains, such as beans, lentils, sesame, and green beans. It has refrigerators built on an area of 2,500 sqm.

The company expanded in exporting legumes, including lentils and beans, with the aim to offset the recent decline in exports, on the back of the government’s decision to ban exporting rice, Al-Walily indicated.

On the other hand, MRM imports beans from England, France, Australia, and Canada, and exports them to Arab countries, including Morocco and Algeria.

Al-Walily stressed the importance of participating in foreign food exhibitions as they gather a large number of companies from different countries, which contributes to promoting Egyptian products and entering new markets.

He called for increasing the state support for small exporters to participate in large international exhibitions which can help them to expand their businesses.

The company regularly participates in a number of international exhibitions, such as Sial Paris, Anuga Food Fair in Germany, and Gulfood in Dubai, concluded Al-Walily.

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Wadi El Nile aims to increase its exports to $12m next year https://dailynewssegypt.com/2018/10/17/wadi-el-nile-aims-to-increase-its-exports-to-12m-next-year/ https://dailynewssegypt.com/2018/10/17/wadi-el-nile-aims-to-increase-its-exports-to-12m-next-year/#respond Wed, 17 Oct 2018 12:43:10 +0000 https://www.dailynewsegypt.com/?p=677910 Company aims to take exports to $22m within next five years

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Wadi El Nile for Agricultural Exports aims to increase its exports to $12m next year, compared to $6m exports expected this year.

Mohamed El Abgy, the chairperson of the company, said that the company aims to double its exports next year through intensifying its presence in the markets of Indonesia, China, and Bangladesh. It also aims to take exports to $22m within the next five years.

He added that the company is specialised in exporting citrus fruits, such as oranges of all kinds, lemons, pomegranates, grapes, strawberry, green onions, garlic, pepper, avocado, and paper veggies such as cabbage lettuce. Citrus fruits alone account for 60% of the company’s exports, as their exports recorded $4m last year.

El Abgy explained that the company currently exports its products to 25 countries, most of them in Southeast Asian countries, as it exports to these markets alone 60% of the citrus fruits, oranges, tangerine and lemons, and 25% to Bangladesh, an equivalent of 80 containers worth $1m. China receives 50 containers of citrus fruits worth $750,000.

The company also exports its products to Vietnam, Myanmar, Cambodia, Sri Lanka and the Fiji Islands group near New Zealand but in limited amounts. It also export to the Philippines via Hong Kong, as well as Indonesia, Malaysia, and Australia.

The company’s exports to the Gulf countries represent 25% of the volume, especially the UAE, Saudi Arabia, Kuwait, and Iraq, in addition to limited amounts to some EU countries, such as Italy and Netherlands, Germany, France, and Belgium, he added.

He noted that exports to the European market has an advantage given the low transportation cost in these countries, as well as the short distance, and the quick arrival of the products. That market is the most suitable market for small-scale sources, given the low risk, and possibility of damaged products.

The company aims to open up new markets during the upcoming period in South Korea and Japan, as it is looking to benefit from cooperation protocols with Egypt, or allow products to enter through neighbouring countries, and then transport them by boat. It also plans to enter the markets of Brazil and Canada, El Abgy indicated.

The company will focus during this season on exporting pomegranate in large quantities to the East Asian market, and grapes to China, noting that China requires the increase of farms first before approving products to enter their markets, concluded the company chairperson.

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Sakr Group’s exports reach $20m in 9 months https://dailynewssegypt.com/2018/10/17/sakr-groups-exports-reach-20m-in-9-months/ https://dailynewssegypt.com/2018/10/17/sakr-groups-exports-reach-20m-in-9-months/#respond Wed, 17 Oct 2018 12:40:15 +0000 https://www.dailynewsegypt.com/?p=677882 Company aims to increase exports by 25% at end of year

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Sakr Group for Food Industries achieved $20m in exports during the first nine months of this year.

The chairperson of the company, Ahmed Sakr, said that they aim to increase exports by 25% at the end of this year, especially juice and dairy products.

Sakr pointed out that the company seeks to enter the Iraqi market through participation in a food exhibition there following a long absence, although Iraq is a large importer of dairy products.

He noted that the Iraqi market accounts for 50% of Egypt’s total exports of cheese and dairy products, therefore, the company is keen to participate in the Iraqi food exhibition to return to this market.

The export problems extend to Sudan, one of the largest importers of Egyptian products, Sakr said, voicing his concerns that the floatation of the Sudanese currency can negatively impact the country’s imports, and increase their reliance on domestic products.

He praised Egypt’s Food Export Council and the Export Development Authority’s role in promoting Egyptian products in the Gulfood exhibition, and providing a suitable space for Egyptian exporters to showcase their products in an honourable manner.

Sakr added that his company exports its products to many countries in Africa, the Arab Gulf region, and the EU, noting that Egyptian exports face a fierce competition in the European and American markets from Turkey, as it provides great support to its manufacturers and exporters.

He called on the Egyptian government to sign more international trade agreements to facilitate the entry of Egyptian products to various markets, and develop technical education to provide trained manpower.

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El Welely for Agriculture Crops plans to increase exports to $150m by 2020 https://dailynewssegypt.com/2018/10/17/el-welely-for-agriculture-crops-plans-to-increase-exports-to-150m-by-2020/ https://dailynewssegypt.com/2018/10/17/el-welely-for-agriculture-crops-plans-to-increase-exports-to-150m-by-2020/#respond Wed, 17 Oct 2018 12:35:57 +0000 https://www.dailynewsegypt.com/?p=677876 Company will import between 50,000 and 75,000 tonnes of rice

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El Welely for Agriculture Crops plans to increase its exports to $150m by 2020 against $80m this year.

The El Welely Managing Director, Adham El Welely, said that they aim to maintain the company’s volume of exports recorded last year, after achieving a 40% growth compared to previous years, where exports accounted for 65% of the company’s sales.

He pointed out that the planned increase will be possible through expansion in the company’s existing export markets and opening new ones. El Welely also aims to diversify exports and maintain their quality.

The company has invested large sums in recent years. A number of silos were established to store grain and pulses which were linked to production lines of lentils and grains. El Welely also built packaging units equipped with the best machines. These units were tested and will be opened in the coming period.

The company focuses on improving the performance and infrastructure of its factories, and marketing and advertising its products, El Welely added.

He pointed out that the company has a rice milling packing machine with a production capacity of 200 tonnes per day, along with a production line of lentils, broad beans, and other grains with a capacity of 150 tonnes per day.

The company works on facilitating exporting and importing processes of agricultural crops, such as rice, sugar, flour and pulses, El Welely stressed.

El Welely for Agriculture Crops is the oldest subsidiary of El Welely Group, with over 50 years of experience.

The managing director explained that the company began expanding last year to enter the African and Middle Eastern markets, with plans to enter the European markets in 2020.

He asserted that the company looks forward towards participating in specialised international exhibitions to increase its exporting contacts and meet new customers, whether in the company’s existing markets or new ones.

The company aims through its participation in SIAL Paris to promote its products in the European markets, and to learn about the latest developments in other international markets.

El Welely complained about the lack of state support for local companies to participate in foreign exhibitions, especially after the recent increase in production costs due to the decline of the Egyptian pound against the dollar.

On the other hand, the company will import between 50,000 and 75,000 tonnes of rice in the coming period to meet the local market’s needs, on the back of the government’s decision to reduce planting rice with the aim of preserving water.

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Paste & Juice injects EGP 30m to develop farming, harvesting methods https://dailynewssegypt.com/2018/10/16/paste-juice-injects-egp-30m-to-develop-farming-harvesting-methods/ https://dailynewssegypt.com/2018/10/16/paste-juice-injects-egp-30m-to-develop-farming-harvesting-methods/#respond Tue, 16 Oct 2018 11:30:24 +0000 https://www.dailynewsegypt.com/?p=677746 We aim to double our exports next year, European market accounts for 85% of company’s production, says Mohamed Al-Sisi

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Paste and Juice Company, specialised in exporting tomato paste, aims to invest EGP 30m to develop and mechanise farming and harvesting methods, as well as opening a new fresh tomatoes production line with a capacity of 1,000 tonnes.

The company’s Exports Director Mohamed Al-Sisi said that they will develop a full mechanisation system, including plantation, production of tomatoes paste, and packaging.

Paste and Juice Company Exports Director Mohamed Al-Sisi

He pointed out that this project’s investment amounted to EGP 30m, adding that 80% of the construction phase has been completed, and is set to start working in the next season.

Al-Sisi added that the company will add a new production line with a capacity of 1,000 tonnes per day, besides the two existing production lines of 700,000 tonnes per day, bringing the total production to 1,700 tonnes per day.

The company succeeded in achieving export growth of 20-25% in 2018 compared to 2017. Exporting was 20,000 tonnes last year compared to 27,000-30,000 tonnes this year and it is expected to reach 70,000 tonnes in 2019, he noted.

Paste and Juice aims to double its exports next year, especially after the increase of production by about 130%. The European markets account for 85% of the company’s total exports, while the rest 15% is allocated for the local, Arab, and African markets.

Al-Sisi stressed that Egypt’s good climate, unlike other competitors, gives a competitive advantage for Egyptian products in the global market.

He stressed that the company has specialists who follow-up on the use of pesticides and the whole planting process.

He underlined the importance of participating in international exhibitions to market local products, and learn about the latest technologies in the agricultural field, stressing that Paste and Juice takes part in all food exhibitions, especially SIAL Paris, Anuga Food Fair in Germany and Gulfood in Dubai.

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We aim to export 5,000 tonnes of sweet potato next year: Habib https://dailynewssegypt.com/2018/10/16/we-aim-to-export-5000-tonnes-of-sweet-potato-next-year-habib/ https://dailynewssegypt.com/2018/10/16/we-aim-to-export-5000-tonnes-of-sweet-potato-next-year-habib/#respond Tue, 16 Oct 2018 10:30:28 +0000 https://www.dailynewsegypt.com/?p=677714 IFCG to invest EGP 100m to improve production quality

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The International Food and Consumable Goods Egypt (IFCG) aims to invest EGP 100m to raise the production quality and quantity, especially that of white and sweet potatoes.

The company’s Export Director Mohamed Habib said that the IFCG increased its production capacity of sweet potatoes last month to 5,000 tonnes.

He pointed out that the company exported about 10,000 tonnes of white potatoes, vegetables, and sweet potatoes in the last season. The company’s first exportation of frozen sweet potatoes reached about 1,500 tonnes, and aims to reach 5,000 tonnes next year.

About 45% of the company’s production of frozen white potatoes and vegetables are for export, while100% of sweet potatoes are allocated for export to the European countries.

The company’s Export Director Mohamed Habib

The company aims to enter new markets in Latin America, adding that IFCG is in talks with some importers in Brazil, and is expected to start exporting in 2019, Habib pointed out.

The Export Director stressed that increasing the company’s production capacity will contribute to raising exports during the coming period, and raising competitiveness locally and internationally. He noted that IFCG relies on modern machines that guarantees the product quality, reduces waste, and increases production.

Habib added that the company aims to expand exports to the European markets and enter the Russian market, given the high demand in frozen vegetables and white potatoes there.

The company aims to boost its growth rates by 20% next season, up from 17% last season, in parallel with entering new markets.

He pointed out that the company’s exports mainly go to the Arab countries, Belgium, Greece, England, Thailand, Pakistan, and Japan. IFCG also intends to open new markets in Southeast Asia.

The IFCG was established in 2011 and began production in 2012. The company is a subsidiary of the Saudi International Food Services.

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Nile Company for Food Industries’ sales expected to score a growth of 66% https://dailynewssegypt.com/2018/10/16/nile-company-for-food-industries-sales-expected-to-score-a-growth-of-66/ https://dailynewssegypt.com/2018/10/16/nile-company-for-food-industries-sales-expected-to-score-a-growth-of-66/#respond Tue, 16 Oct 2018 10:08:20 +0000 https://www.dailynewsegypt.com/?p=677713 European market accounts for 75% of the company's exports, says Hendy

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The Nile Company for Food Industries (Enjoy) expects to increase its sales to $30m, up from $18m last year, marking a growth of 66%.

The company’s chairperson Mahmoud Hendy said that the company achieved high growth rates during the first nine months of this year, compared to the same period of last year, boosting expectations of achieving high growth rates by the end of this year.

The increase in sales this year was attributed to the success of adding new customers in the last year, as well as entering new markets.

“The expansion in the customer base and entering new markets reinforced the expectation of exporting up to 20,000 tonnes of frozen vegetables in 2018, compared to only 12,000 tonnes in 2017,” Hendy said.

The Nile Company ndustries chairperson Mahmoud Hendy

The annual production capacity of Enjoy is distributed between 65% of frozen vegetables, and 35% of fruits, of which about 95% is annually exported, and the rest goes to the local market.

Enjoy produces strawberries, apricots, mangoes, guava, pomegranates, oatmeal, and artichokes.

Hendy said that this year’s export volume was good, and there are promising indicators of further increases.

Enjoy started exporting to Arab markets in the beginning of 2018, especially Saudi Arabia and Jordan, he pointed out, adding that the same applies to Russia, especially since many of the products witnessed weak presence in the Russian market in the recent period, which encouraged the Egyptian market to raise the volume of contracts to compensate for that shortage.

The EU countries account for 75% of the company’s annual exports, followed by Iraq by about 15%, the US and England by about 5% each, and low amounts to Beirut.

The chairperson explained that the understanding and harmony between the regulatory and supervisory bodies contributes to the stability of the food industry, and provides the necessary environment for companies to increase production.

He also pointed out that the decision to float the pound at the end of 2016, contributed to increasing exports and entering new markets, raising the competitiveness of Egyptian products abroad, despite the local price hike.

The decision to liberalise exchange rates was a double-edged sword. The flotation benefited exports, but the local industry’s dependence on imported raw materials wasted this advantage, highlighted Hendy.

The food sector imports much of its raw materials, which requires foreign currency to adjust production costs and match the capabilities of local consumers.

He noted that the value of production is measured by the company’s annual growth in its business size, but the situation in Egypt still needs more industry-specific measures for export development.

Regarding international exhibitions, Hendy said that participation in exhibitions and dealing with other companies from foreign countries is of great benefit to Egyptian exporters, as it provides opportunities to learn about modern technology, and everything new in the sector to develop business methods in line with the tastes and demands of foreign consumers.

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$1.459bn, volume of trade exchange between Egypt, France in 8 months: Nassar https://dailynewssegypt.com/2018/10/13/1-459bn-volume-of-trade-exchange-between-egypt-france-in-8-months-nassar/ https://dailynewssegypt.com/2018/10/13/1-459bn-volume-of-trade-exchange-between-egypt-france-in-8-months-nassar/#respond Sat, 13 Oct 2018 20:10:50 +0000 https://www.dailynewsegypt.com/?p=677279 “Delegation of leading French companies in medicine field to visit Egypt next month to discuss investment opportunities in the country,” says Roumtier

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The volume of trade exchange between Egypt and France during the first eight months of this year amounted to $1.459bn, Minister of Trade and Industry Amr Nassar revealed during his meeting with the French Ambassador to Egypt Stefan Roumtier. Of this amount, $460m represents Egyptian exports and the remaining $999m represents imports.

Nassar added that the volume of French investments in Egypt amounted to €4.5bn, distributed over 473 projects in the following sectors: agriculture, information technology, construction, new and renewable energy, transportation, banking and insurance, aviation, water purification and desalination, infrastructure projects, and tourism.

According to the State Information Service (SIS), the key Egyptian exports to France are vegetables, plants, edible roots, fruit, citrus, fertilisers, aromatic oils, clothing, textile materials, aluminium and its products, machinery, and equipment.


Meanwhile, the main Egyptian imports from France, according to the SIS, include cereals, organic chemical products and pharmaceutical products, as well as aromatic oils, various chemical products, aluminium and its products, nuclear reactors, electrical machinery and equipment, and optical instruments and devices.

During the Minister’s meeting with the French Ambassador, they discussed the future of economic relations between the two countries and ways to attract more French companies to invest in the Egyptian market.

For his part, Ambassador Roumtier announced that a delegation of leading French companies in the field of medicine and medical equipment will visit Egypt next month to discuss investment opportunities in the Egyptian market. He pointed out that the visit also aims to boost trade exchange between both countries in the area of medical products and equipment.

Ambassador Roumtier praised the economic reforms implemented by the Egyptian government during the last two years, including financial and legislative reforms, noting that these reforms played a pivotal role in restoring Egypt’s position as one of the dominant markets in the Middle East and Africa.


“These reforms have been important in attracting a large number of French companies to direct their investments towards the Egyptian market,” he assured.

Moreover, the meeting also dealt with preparations for the upcoming visit of French President Emmanuel Macron next year. This will be the French President’s first visit to Egypt since his election in May 2017.

A meeting of the Egyptian-French Business Council has also been planned during the President’s visit, to discuss ways to strengthen economic and trade relations between the two countries.

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South Africa ratifies Tripartite Free Trade Agreement, fourth member state https://dailynewssegypt.com/2018/10/11/south-africa-ratifies-tripartite-free-trade-agreement-fourth-member-state/ https://dailynewssegypt.com/2018/10/11/south-africa-ratifies-tripartite-free-trade-agreement-fourth-member-state/#respond Thu, 11 Oct 2018 08:00:15 +0000 https://dailynewsegypt.com/?p=676996 Negotiations between EAC, Egypt complete

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South Africa has ratified the Tripartite Free Trade Agreement (TFTA), becoming the fourth member state to do so after Egypt, Uganda, and Kenya.

The South African Government sent a notification of ratification to the Chair of the Tripartite Task Force, Chileshe Kapwepwe, the Secretary General of COMESA said, on Tuesday.

Kapwepwe said that this development moves the Tripartite process to near operationalisation.

She added that the process of ratification has been set in motion in a number of member states, and it is expected that this target will be reached by end of April 2019, which is the deadline that the Tripartite member states set for themselves. With this latest development, 10 more ratifications will be needed for the agreement to enter into force.

For his part, Francis Mangeni, a member of the technical negotiating team and COMESA director of Trade and Customs, said that this development is a step towards achieving the Tripartite Free Trade Area Agreement, which groups 29 of the 55 countries negotiating the African continental Free Trade Area.

Mangeni added that all the annexes to the TFTA agreement have been concluded.

Based on the provisions on transitional arrangements, he explained, once the threshold for the minimum number of ratifications is achieved, afterwards, the implementation phase of the agreement will immediately commence, on the basis of the principle of variable geometry. “This is aided further by the fact that the exchange of tariff offers is near complete,” Mangeni explained.

All the member states, including the Southern Africa Customs Union (SACU) countries, East African Community (EAC) countries, and Egypt, chose to offer their respective Regional Economic Communities’ preferential arrangements, and were therefore not negotiating tariff offers, according to Mangeni.

Mangeni pointed out that the negotiations between the EAC and Egypt are complete.

“Those between the SACU and Egypt, as well as the SACU and the EAC are nearing completion. In the latter case, divergence has narrowed down to just one product line. All the negotiating parties have agreed to a deadline of December 2018”, he noted.

He revealed that negotiations on the Tripartite rules of origin are highly advanced. From the total of 5,387 tariff lines, Rules of Origin have now been developed for 3,267 tariff lines, representing 60.8% of all the tariff lines.

Mangeni said that several tripartite instruments have also been developed, and are now ready for use. The tripartite guidelines on implementation of Trade Remedies are ready for use, and so are certificates of origin, export declaration, and import declaration forms, among others.

In addition, the Tripartite Agreement on the Movement of Business Persons has also been finalised, and will be ready for use once it undergoes legal scrubbing.

“This latest ratification moves the Tripartite process one step closer to the implementation stage, and it is likely to present more scope for early harvest and by extension, prospects for fast-tracking the continental integration agenda,” Mangeni concluded.

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10% decline in traded cargo in Damietta port in August https://dailynewssegypt.com/2018/10/09/10-decline-in-traded-cargo-in-damietta-port-in-august/ https://dailynewssegypt.com/2018/10/09/10-decline-in-traded-cargo-in-damietta-port-in-august/#respond Tue, 09 Oct 2018 20:00:03 +0000 https://dailynewsegypt.com/?p=676843 Traditional general cargo increased in July this year by 47.1%

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A report issued by the Damietta Port Authority (DPA) has showed a decline in the number of jetties in the port, during August 2018 year-over-year (y-o-y), as well as a fall in the total cargo volume traded.

According to the report, the number of ships that docked in Damietta reached 237 in August 2018, compared to August 2017, falling by 4%.

The number of liquid bulk vessels declined by 38% y-o-y in August, while the number of general cargo ships rose by 5%.

According to the report, the volume of goods traded in the port declined by 10% y-o-y, reaching 3.1m tonnes in August this year, compared to 3.6m tonnes in August 2017.

Moreover, liquid bulk cargo sizes fell significantly by 64.2% in the same period.

The report has also revealed a decline in the number of twenty-foot equivalent units (TEU) traded at the port by 10% y-o-y, falling from 99,800 in August 2017 to 88.600 in August 2018.

Another previous report had disclosed that the size of cargo handled at the port increased in July by 17% compared to July 2017, where the total size of cargo amounted to 3.6m tonnes in July 2018, up from 3.1m tonnes in July 2017.

Traditional general cargo also increased in July this year by 47.1%.

The report noted that the number of TEUs handled at the port increased slightly in July 2018, compared to the same month in 2017, where the number of containers increased from 91,500 in 2017 to 91,700 TEUs in July this year.

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