Egyptian industry must take measures to increase its exports, said Yusef Butros Ghali, the Egyptian minister of economy and foreign trade, in an interview to Al-Arab Al-Youm. In effect, this means improving the rate and quality of production, the minister explained.
Noting that his ministry has been working on a program to iron out the bureaucratic and procedural hurdles on the way of exports, Ghali stressed that overseas markets represent the only way out of Egypt's economic predicament.
However, he added, it will take some time to prepare Egyptian society for a reality in which itwill be predominantly laboring to fulfill demands of overseas consumers.
Egyptian companies should to prepare to face both foreign and internal competitors. As a result, he said, certain low quality or unreasonably priced merchandise will fail in the battle against higher-quality better-priced foreign commodities.
Ghali said Egyptian industry should come up with a special trademark that will identify products as having originated in Egypt. He suggested the use of a pyramid with a cotton ball in the middle. — (Albawaba-MEBG)
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