Egypt, ITFC mull new framework agreement to leverage Egypt's exports, empower private sector
Updated 9/8/2024 6:54:00 AM
Arab Finance: Egypt is preparing to sign a new framework agreement with the International Islamic Trade Finance Corporation (ITFC) to support Egypt’s efforts to empower the private sector and enhance exports, as per a statement.
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat met with the CEO of Hani Salem Sonbol has discussed this agreement in a meeting.
Both parties also reviewed ongoing cooperation between the ministry and the ITFC, exploring new opportunities.
Key areas of discussion included the implementation of the new framework agreement and ongoing initiatives such as the program to train 50 female entrepreneurs in export-focused handicrafts and heritage industries.
The meeting also addressed the partnership agreement signed between the ITFC, Expolink, and the Foreign Trade Training Center to establish the Export Academy in Egypt.
Al-Mashat highlighted the significant role of ITFC in supplying critical resources such as petroleum and food commodities, emphasizing the government's commitment to creating a favorable environment for local and foreign investments.
She outlined the government's current priorities, including an ambitious economic and structural reform program aimed at boosting comprehensive economic development.
Both parties reaffirmed their commitment to strengthening collaboration and advancing Egypt’s economic objectives through strategic partnerships and support for private sector expansion.
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