WB, Egypt Discuss National Strategy for Industrial Development

Egypt's Minister of Trade and Industry Ahmed Samir met with a group of representatives of the World Bank (WB) led by Country Director for Egypt, Yemen and Djibouti Marina Wes to discuss the general frameworks of the national strategy to develop the Egyptian industry.

The meeting tackled the main axes of the strategy which include deepening local manufacturing, developing exports to the different foreign markets especially the African ones and increasing the contribution of the industrial sector to the Gross Domestic Product (GDP), according to a statement.

During the meeting, the Egyptian minister said that his ministry aims at making the national strategy for developing the Egyptian industry sustainable, flexible and capable of dealing with the accelerating global changes in addition to drawing on the experiences of other countries while devising its plans to do so.

"The strategy aims at promoting the Egyptian industry and establishing a distinguished trademark in the mind of consumers across the world," he said.

Also in this regard, Samir noted that the Ministry of Trade and Industry launched a number of sectoral policies to be used in charting the new strategy.

Meanwhile, Wes welcomed cooperation with the Egyptian government to draw up this important strategy, asserting the keenness of the WB to boost cooperation frameworks with Egypt.