CAIRO, March 10 (MENA) - Prime Minister Mostafa Madbouli said Monday that the document presented by the advisory committee for export development represents a significant step in supporting Egyptian exports.

During a meeting with the committee, Madbouli announced specific timelines will be set for implementing the agreed-upon recommendations.

The meeting was attended by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, Minister of Finance Ahmed Kouchouk, Deputy Minister of Finance Yasser Sobhi, and other officials.

The prime minister emphasized the government's strong focus on the export sector, highlighting a clear vision for developing the customs system to enhance export competitiveness and improve the business environment.

Key recommendations from the advisory committee included providing a competitive interest rate linked to inflation, reducing tax and customs burdens on exporters, accelerating the disbursement of export support program dues, unifying export data across government platforms, and increasing financing and credit for export-oriented industries.

The recommendations also called for supporting local industries such as textiles, leather goods, food industries, and electrical appliances to boost domestic demand and increase exports, as well as attracting foreign investments and introducing new tax incentives.

Mashat confirmed that the government is already working on reducing inflation and interest rates in coordination with the Central Bank, explaining that external funding is being directed to support the private sector.

For his part, Kouchouk praised the committee’s proposals, noting that the government is working on expanding the tax base, introducing a new tax reform package, and improving the export support program to better assist exporters.

After the meeting, Madbouli announced that starting next week, meetings will be held with representatives from each export sector to discuss their specific demands in detail, ensuring that urgent proposals are implemented alongside long-term economic reforms. (MENA)

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