Ministers of Trade, Planning launch the activities of the "She Trades Egypt" initiative

"She Trades Egypt" initiative is consistent with the state's approach to economic empowerment of women: Says Hala El-Said

Minister of Planning and Economic Development, Dr. Hala El-Said who is also acting as Egypt’s governor at the Islamic Development Bank Group, and Ms. Nevin Gamea, Minister of Trade and Industry participated in the launching of the initiative for women in international trade "She Trades Egypt".



The initiative is being implemented through the International Trade Center, with support and financing from the International Islamic Trade Finance Corporation (IITFC) and the Islamic Development Bank through the Aid for Trade Program for Arab Countries “AFTIAS”The initiative is also implemented in partnership with the Ministry of Trade and Industry represented by the Export Development Authority, the Ministry of Planning and Economic Development, the National Council for Women, and the Export Council for Crafts and Handicrafts, in addition to partner institutions and the private sector.


 Eng. Hany Salem Sonbol, CEO of the International Islamic Trade Finance Corporation, and Dr. Maya Morsi, President of the National Council for Women, participated in the launching activities of the initiative, in addition to representatives of the International Trade Center, the United Nations, and the Islamic Development Bank.


During the launch ceremony, Dr. Hala El-Said, Minister of Planning and Economic Development said that the value of the cooperation portfolio between Egypt and the International Islamic Trade Finance Corporation has so far reached about $12.5 billion.


El-Said praised the distinguished initiatives and programs implemented by the Foundation and in which Egypt actively participates, on top of which is the Aid for Trade Initiative Program for Arab Countries (IFTIs) and the Arab-African Trade Bridges Program; These include some initiatives in the areas of trade facilitation and trade corridors, youth employment, capacity support, and skills development related to Egyptian exports.



El-Said added that among these initiatives is today’s initiative to promote women's entrepreneurship, in addition to the Foundation's contributions in the areas of institutional development and capacity building in the field of trade and various development fields, the most prominent of which came through the "Integrated Business Solutions" initiative.


On the goals of the “She Trades Egypt” initiative, El-Said said that they are consistent with the direction and efforts of the Egyptian state to achieve economic empowerment for women, in a way that contributes to achieving comprehensive and sustainable development.


El-Said pointed to the developmental role played by small businesses owned by women, or managed by women involved in this initiative, in supporting the achievement of the goals related to Egypt’s Vision 2030 and the United Nations Sustainable Development Goals, especially concerning the eighth goal “Promoting sustained and comprehensive economic growth and full and productive employment” as well as the fifth goal “gender equality.”


Concerning Egypt's efforts to achieve the economic empowerment of Egyptian women, El-Said pointed out that women have achieved successive leaps and unprecedented gains during the era of President Abdel Fattah Al-Sisi, who declared 2017 the year of Egyptian women, which coincided with the launch of the national strategy for the empowerment of Egyptian women.


El-Said pointed out that the percentage of females reached 50.7% of the total employees in the state administrative apparatus, and Egypt scored its highest point in the pension and equal income index, at 100%, and in the entrepreneurship and work environment index for women by 75%, according to the “Women, Business and the Law” (WBL World Bank index.



Mrs. Nevin Gamea, Minister of Trade and Industry confirmed that the ministry attaches great importance to promoting women's participation in the economic development system, achieving equal opportunities in employment in all sectors, including small initiatives and entrepreneurship, and increasing its contribution to the development of Egyptian exports to foreign markets.


Gamea pointed out the importance of the “She Trades Egypt” initiative in supporting women entrepreneurs in the handicraft sector in Egypt to enhance their capabilities to integrate into global value chains.



 “The initiative plays a more effective economic, social and political role, it also achieves the ultimate goal of women’s economic empowerment to support comprehensive development and contribute to the country’s economic growth and the most competitive companies’ contribution to achieving the goals associated with Vision 2030,” Gamea added.




The minister pointed out the importance of the initiative in supporting the capabilities of the participating institutions, enabling them to continue in the future to provide and improve their services to female entrepreneurs and small and medium enterprises in all productive and export sectors.


Gamea explained that Egyptian women have a large share in these types of initiatives, especially craft and handicraft initiatives, as women hold 20% of the total Egyptian companies working in the handicraft sector.


Gamea highlighted that this initiative supports the role that women play in economic activity and comes within the framework of the "Egypt Vision 2030" and the "National Strategy for Women Empowerment 2030", which urge the promotion of women's economic empowerment by supporting small and medium enterprises and entrepreneurship to maximize the utilization of productive capacities.


The minister added that the initiative aims to achieve sustainability in Egypt by supporting the capabilities of the participating institutions so that they can continue in the future to provide and improve their services to female entrepreneurs and small and medium enterprises in all productive and export sectors, especially after the great success of the program in the Kingdom of Morocco.


She explained that the initiative will enhance the capabilities of women-led small businesses through pieces of training in production, packaging, logistics, trade information, quality management, marketing, and sales specific to a specific sector. The selected medium, small and micro enterprises will benefit from the best export practices and communication with export markets and buyers.


Gamea indicated that the initiative will also provide support to the Egyptian Export Development Authority in commercial information services, market development, and quality management.


For her part, Ms. Pamela Coke-Hamilton, the Executive Director of the International Trade Centre (ITC), pointed out that women's entrepreneurship is a valuable asset to recovery, noting that according to McKinsey, Egypt could boost its economy by $313 billion by 2025 by supporting women's participation on equal footing in the economy.


Eng. Hany Salem Sonbol, CEO of the International Islamic Trade Finance Corporation, explained that this initiative contributes to building Egyptian women's skills and helping them add value to their products in the handicraft sector.

“The two-year initiative will focus on increasing the participation of 50 Egyptian women-owned SMEs in export-oriented value chains by enhancing their competitiveness and access to local and regional markets, particularly through digital technologies,” he added.


He explained that the International Islamic Trade Finance Corporation is fully aware of the magnitude of the many and interrelated challenges faced by women to participate in trade effectively, and achieve their equality with men, which prompted it to support this important initiative.


Sonbol pointed out that the second phase of the Aid for Trade Initiative for the Arab States (AfTIAS) program has devoted a special component to support inclusiveness that focuses on financing initiatives that support women's empowerment and their participation in international trade, in light of Egypt's powerful contribution to the design of the second phase of the program, which the International Islamic Trade Finance Corporation is working to launch soon.

 In turn, Mrs. Maya Morsi, head of the National Council for Women, said that this stage is the golden age for Egyptian women, as 25% of the Egyptian government is women ministers.She pointed out that the She Trades initiative is one of the most important initiatives that support the economic development of Egyptian women.

"The National Council for Women participates in the initiative with 8 main pillars, including entrepreneurship, support for small, medium and micro enterprises, the project for the participation of 100 Egyptian women in global trade, in addition to inclusion and financial education for women in the governorates." She said.

Morsi added that bridging the gap between men and women in economic activity will contribute to achieving a 34% increase in the gross national product, noting that Egypt is implementing a strategy to empower women within the framework of Egypt's Vision 2030 aimed at facing all the economic challenges facing Egyptian women and enhancing their presence in global value chains.


 For her part, Elena Panova. UN Resident Coordinator in Egypt stressed the importance of supporting initiatives to empower women, create equal opportunities and increase women’s participation in entrepreneurship initiatives and take leadership positions.


She noted that the Egyptian state has made great strides in the field of gender equality, especially in the fields of education and job opportunities.


She added that the United Nations supports initiatives for women's participation in local, regional, and global value chains, pointing to the importance of supporting efforts to protect women from the negative repercussions of the Coronavirus "Covid 19" pandemic.