Switzerland Allocates CHF 1.5 Mln to Support GTEX in Egypt

Egypt and Switzerland signed a cooperation agreement in the field of providing financial and technical support to finance the international textile and clothing program "GTEX" in Egypt.

The agreement was signed by Egypt`s Trade and Industry Minister Amr Nassar, and Swiss Ambassador to Egypt Paul Garnier.

The minister added that the agreement contributes to the development of bilateral relations. It promotes technical, economic and financial cooperation between Egypt and Switzerland.

Nassar explained that GTEX aims to increase the export competitiveness of small and medium-sized enterprises (SME) products in the textiles and garments sector.

He pointed out that the agreement of implementing the program in Egypt aims to provide technical support for the development of the textile sector in Egypt.

He added: "The main objective of the agreement is to create more jobs and improve income in the textile and clothing sector." "The program will enter into force as soon as it is signed and continues until 31 December 2021."

Nassar added that the Ministry is responsible for the implementation of the project in Egypt and the Swiss State Secretariat for Economic Affairs (SECO) is responsible for the implementation in Switzerland.

On his part, Matthias Knappe, GTEX Programme Manager said: “The project meets the needs of Egyptian companies to enhance the competitiveness of the Egyptian product. It also increases exports and supports the main sponsors of the textile sector. It is expected to achieve sustainable results including increased exports and job creation.”