The agreement is designed to accomplish two primary objectives: enhancing the capability and effectiveness of the Egyptian system focused on enterprise growth and trade
The Egyptian government signed an agreement worth € 8 million with the European Union (EU) program to support trade, industry, growth and rapid market access EU Tigara, according to a statement by the Ministry of Planning and International Cooperation.
The agreement is designed to accomplish two primary objectives: enhancing the capability and effectiveness of the Egyptian system focused on enterprise growth and trade, and also, boosting the involvement of small and medium-sized Egyptian businesses in industrial value networks.
This program is planned to be implemented through the United Nations Industrial Development Organization (UNIDO), in cooperation between the Ministries of Industry, Investment and Foreign Trade, and the EU over a period of 60 months.
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, said that the agreement works to boost the efficiency of the Egyptian private sector, increase rates of economic growth and create decent job opportunities.
El-Wazir added that the Ministry of Industry is currently implementing a comprehensive plan to advance the industrial sector based on 7 axes, in implementation of President Abdel Fattah El-Sisi’s directives to transform Egypt into a regional industrial center.
Minister of Planning an International Cooperation, Rania Al-Mashat, added that training and upgrading skills is one of the main axes of cooperation with the EU.
This will help to encourage local and foreign investment in priority sectors that are at the top of the country’s priorities, Al-Mashat confirmed.
