Expressing optimism that this momentum will accelerate from August onwards, AEC chairperson Fadel Marzouk projected additional growth of up to 35 per cent.
He attributed this to the council’s robust support for exporters and successful efforts to attract new foreign investments, particularly from China and Turkiye, according to domestic media reports.
Egypt’s readymade garment exports rose by 26 per cent YoY to nearly $1.939 billion during the first seven months this year, according to the Apparel Export Council (AEC).
Expressing optimism that this momentum will accelerate from August onwards, AEC chairperson Fadel Marzouk projected additional growth of up to 35 per cent.
AEC has set a medium-term target to increase exports to $12 billion by 2031.
These developments are further bolstered by collaborative plans with the government focused on the Suez Canal Economic Zone and other industrial hubs.
Maintaining a monthly growth rate of between 30 per cent and 35 per cent could propel exports to an unprecedented $3.7 billion by the end of the year, he said.
AEC has set an ambitious medium-term target to increase exports to $12 billion by 2031. It is also focusing on strengthening Egypt’s presence in key markets like Europe, the United States and Canada, leveraging trade agreements and boosting product value through modernisation of production lines.
Efforts include launching two specialised textile and garment cities in Fayoum and Minya.
Fibre2Fashion News Desk (DS)
