Egypt : Egyptian textile exports fall by 4% to $62 mn in Jan

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Egyptian textile exports fall by 4% to $62 mn in Jan

29
Mar '18

Egyptian textile exports fell by 4 per cent during January 2018 to $62 million compared to $64 million in the same month last year, according to the Egyptian Textile Export Council. The ministry of industry, whose strategy of regulating imports led to exports reaching $22.4 billion in 2017 — an 11 per cent rise — aims to raise exports to $25 billion in 2018.

Industry minister Tarek Kabil announced earlier that work is under way to replace imported products with Egyptian ones and to raise the quality of textile in the coming years.

The country will adopt a strategy to become a centre for textile manufacturing in future by issuing industrial land to construct new textile units and expand existing factories, according to a report in a Egyptian newspaper.

The government started constructing two textile townships in 2017 — in Badr City and in Sadat City in Menoufia governorate. The one in Sadat City, being constructed in cooperation with a Chinese company, will be the biggest textile township and will be completed in 2024. Its first phase will include 57 factories. (DS)

Fibre2Fashion News Desk – India

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