Egyptian free-zone exports up 33 percent
Industrial exports from Egypt’s free zones rose 33 percent to $386 million during first three quarters of 2000, from the $290 million registered during the same 1999, reported Ibrahim Fawzi, chairman of the Investment Authority.
Fawzi pointed out that 30 percent of all Egypt’s exports are now routed through the free zones.
According to Fawzi, countries belonging to the European Community accounted for $149 million worth of the free-zone exports during the first three quarters, up 99 percent from the amount registered during the equivalent period last year.
The free zones also play a crucial role in encouraging general Egyptian exports. According to Fawzi, industrial exports from the local market to the free zones, which will eventually be channeled to the outside world, rose by 69 percent to $112.6 million during the first nine months of 2000, compared to the same period a year earlier. In September alone, industrial exports from the local markets to the free zones stood at $20 million, compared to $5 million during September 1999.
In September industrial exports totaled to $41 million, compared to $ 27.8 million in September last year.— (Albawaba-MEBG)