Egypt Aims for $100 Billion in Exports with Launch of Trade Information Portal

Dr. Mostafa Madbouly, Egypt’s Prime Minister, delivered a speech on Tuesday during the launch of the “External Trade Information Portal,” organized by the Information and Decision Support Center at its headquarters in the New Administrative Capital. The portal, developed in collaboration with the Ministry of Investment and Foreign Trade, aims to be the largest national platform for Egyptian foreign trade information.

In his opening remarks, Prime Minister Madbouly welcomed attendees, particularly representatives from the business community, private sector partners, regional and international organizations, and members of parliament. He expressed his pleasure at participating in this strategic event, emphasizing that the launch of the new portal is part of a broader governmental effort to implement reforms across various sectors that have not seen development for decades.

Madbouly highlighted his commitment over recent years to engage with representatives from export councils and business leaders to address a specific national aspiration: doubling Egypt’s exports and achieving a balance in the trade deficit over the next three years, targeting approximately $100 billion in exports by 2030.

The target figure was set based on the needs of a developing nation with an economy that grows annually. However, he noted that external shocks have historically impacted trade deficits. The past four years have seen unprecedented global external shocks affecting economies worldwide, underscoring the importance of striving towards achieving trade balance and resilience against future external challenges.

He acknowledged that recent external shocks were significant and challenging. While there is hope for resolution regarding current U.S.-Israeli-Iranian tensions, new conflicts may arise. This reality necessitates a focus on improving the investment climate and addressing longstanding issues with determination.

Madbouly emphasized that enacting policies alone is insufficient; successful implementation down to the last level is crucial for sustainability. He stated that the newly launched platform is part of an initiative aimed at institutional, legislative, regulatory, and logistical reforms to support industry and exporters in accessing markets effectively.

The Prime Minister also discussed several legislative reforms aimed at enhancing export support initiatives. He noted that last month, the government submitted seven amendments to parliament concerning customs and tax facilities intended to create a more favorable business environment before June 30.

During his field visits to various factories, Madbouly expressed satisfaction upon hearing about expansion plans from factory representatives for upcoming years and anticipated job growth alongside increased investment and export volumes. These indicators reflect Egypt’s goals achieved through collaboration between government and private sectors for national development.

He reiterated that today’s initiative will provide exporters with essential data to encourage them to explore new markets while enhancing product development according to global standards. The portal aims to strengthen supply chains vital for boosting exports.

Concluding his remarks, Dr. Madbouly extended heartfelt thanks to the Ministry of Investment and Foreign Trade, the Information Support Center, and all national experts involved in developing this platform. He urged private sector partners, exporters, commercial chambers, and research institutions to maximize their use of this platform while contributing to its ongoing development.

He announced: “With God’s blessing, we inaugurate today Egypt’s External Trade Information Portal as a digital infrastructure for smart exporting in Egypt—an essential tool supporting businesses on their journey towards growth and market expansion globally. This is another step toward building a more competitive, resilient, and sustainable Egyptian economy.”.