Egypt seeks Swiss help for developing its textile sector

23 Apr '13

1 min read

The upper house of Egyptian bicameral Parliament – the Shura Council – has sought enhanced provision for subsidies for its textile sector from Switzerland, to enable it to better support small, micro and handicraft development projects and development of state infrastructure, Daily News Egypt reported.

Raising the demand through a statement, a Joint Council constituting representatives of the Shura Council’s Financial and Public Administration Committees said the demand has been made in view of inking of an agreement between Egypt and Switzerland for boosting financial, logistical and human resource ties between the two nations, considering that Switzerland is one of the world’s most developed countries in the textile sector.

The Council report also sought increased support for integrated projects, including textile projects and infrastructure, in lines with the preferences and needs of Egyptian provinces.

The Council urged that the agreement inked between the two countries should include clauses ensuring enhanced infrastructure development and financial support for production of basic inputs, particularly for the textile industry.

Also, it suggested that Switzerland should extend human resource support to the Egyptian industry.

Fibre2fashion News Desk - India

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