Nassar: 40% of Egyptian Imports are Production Inputs

The Egyptian Minister of Trade and Industry Amr Nassar said on Sunday that 40% of Egyptian imports are production inputs, stressing the importance of the program currently being implemented by the ministry to deepen local manufacturing, which aims to increase the proportion of locally manufactured components to reflect positively on the economy.

He added that the ministry seeks to maximize the potential available in the Ministry of Military Production to manufacture national production inputs that meet the needs of the Egyptian industry and contribute to filling the trade deficit.

The Minister stressed that the role of the private sector as a major partner of the government in implementing comprehensive economic development plans cannot be overlooked.

In addition to dealing with export seriously and work to open new markets for export and take advantage of the agreements concluded between Egypt and countries and regional groupings.

This came during the participation of the Minister in the session "export .. vision and obstacles" within the activities of the economic news conference today.

The Minister affirmed that the promotion and development of Egyptian exports is a national goal that the government is seeking to achieve during the current phase, especially since export is one of the main pillars of Egypt's national output.

He pointed out that the Egyptian commodity exports witnessed a remarkable increase during the first 9 months of this year by 3% compared to the same period last year, in addition to the decline in the value of imports, which contributed to the reduction in the trade balance deficit during the same period amounted to $669 million.