20/06/2000
Al-Alam Alyom Newspaper 2000/JUNE /20
Egypt is linked to Europe by an agreement that was signed in 1977. Egyptian economy has succeeded in reaching a medium exchange rate and lowering inflation ratios. Now the Egyptian economy must have the capacity to pierce the international market and must change the internal position of producers regarding customs, taxes and labor laws. It is necessary to establish a General Authority for Egyptian exports representing all ministries. The agreement will not be useful without support policies.(Available in Arabic – German in PDF )
Egypt is linked to Europe by an agreement that was signed in 1977. Custom duties were lowered to zero but the volume of commerce with Europe remains low and the volume of imports from Europe varies between 3.8 and 4 billion dollars. Egypt must put aside its export targets and must match the quality of European production in order to become competitive. The Egyptian industrialist must develop his factory to become competitive in the face of European commodities. It is necessary to establish a General Authority for Egyptian exports representing all ministries. The agreement will not be useful without support policies. Egyptian economy has succeeded in reaching a medium exchange rate and lowering inflation ratios. Now the Egyptian economy must have the capacity to pierce the international market and must change the internal position of producers regarding customs, taxes and labor laws. Egypt is not in any position to try and compete with Europe. What it can do is compete within the European market in the capacity of exporter along with 180 other countries.