H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development & International Cooperation, Participates in 1st Annual "Shifting Mindsets to Unlock Export Potential" Forum, Organized by the General Authority for Export and Import Control (GOEIC)

   Al-Mashat: The economic ministerial group operates under a unified vision to enhance macroeconomic stability and promote private sector participation.

 The Ministry is working to address sector development gaps through international cooperation; advancing economic development efforts.

The Minister highlighted the cooperation between USAID and GOEIC in stimulating trade and investment in Egypt.
 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, participated in the first annual forum organized by the General Authority for Export and Import Control (GOEIC), under the title "Shifting Mindsets to Unlock Export Potential".

 

This included the participation of H.E. Eng. Hassan Al-Khatib, Minister of Investment and Foreign Trade; Mr. Yasser Sobhi, Deputy Minister of Finance for Financial Policies; Eng. Essam El-Naggar Chairman of the General Organization for Export and Import Control (GOEIC); H.E. Amb. Herro Mustafa Garg, U.S. Ambassador to Egypt; Mr. Sean Jones, Mission Director for USAID in Egypt; Mr. Rachid Benjelloun, director of the Trade and Export Development Project in Egypt funded by the United States Agency for International Development (USAID), and several representatives of the business community, national entities, and development partners.

 

In her speech, H.E. stressed that export growth is essential to achieving economic stability as part of the government’s efforts to build a competitive economy, as it enhances foreign currency flows and encourages job creation; all of which are essential for economic growth. The Government of Egypt is committed to investing in the industrial development file to encourage efforts to localize the industry and increase the competitiveness of local products in global markets.

 

Al-Mashat explained that the Ministry is operating through a clear framework to improve development planning mechanisms, as well as to promote international partnerships to achieve economic development that intersects with all sectors. H.E. added that economic development cannot be achieved without the private sector, and therefore the Ministry sought to govern public investment spending to make way for the private sector and increase its participation in development efforts. In addition, the economic ministerial group also operates through a unified vision to enhance macroeconomic stability, improve public finances, implement structural reforms, and increase participation of the private sector.

 

Al-Mashat also added that the Ministry of Planning, Economic Development and International Cooperation seeks to meet national priorities through the long-standing relations between Egypt and international development partners, through country ownership in order to bridge development gaps in all sectors. In addition to encouraging the growth of the private sector, the Ministry seeks to maximize the benefit from the strategies prepared in partnership with international institutions, to support industrial development and export efforts in Egypt. One of the most prominent areas of cooperation in this field is the industrial development strategy that is being prepared in cooperation with the World Bank.

 

H.E. highlighted the long-standing cooperation between the Egyptian and American governments, especially in light of the efforts of the USAID, with which we have close relations in various sectors such as education, health, tourism and agriculture.

 

The Minister shared the partnership between the USAID and in Egypt, particularly focused on strengthening Egypt's private sector through the Trade and Investment Promotion in Egypt Agreement (TIPE), through which the Trade Reform and Export Development in Egypt (TRADE) project is funded, aiming to enhance the export capacity of small and medium enterprises (SMEs) across vital sectors. Accordingly, this partnership not only improves trade but also elevates the role of Egyptian businesses in the global marketplace, stimulating sustainable economic growth.

 

H.E. noted that this project is one of many models through which the Ministry seeks to stimulate export growth through joint efforts with international partners.

 

Al-Mashat said that while global challenges persist, Egypt has taken important steps to enhance macroeconomic stability. In this regard, the Ministry of Planning, Economic Development, and International Cooperation, in coordination with international development partners, is committed to advancing the Egyptian economy through three strategic priorities: enhancing competitiveness and improving the business environment, building macro-fiscal resilience, and supporting a green economy. A core element of this approach is empowering the private sector, especially exporting companies, to seize opportunities in international markets.

 

Al-Mashat also highlighted that the Ministry launched the digital “Hub for Advisory, Finance & Investment for Enterprises” which aims  to streamline support from development partners to the private sector.  The platform acts as a one-stop shop, streamlining access to development resources and ensuring a more coordinated effort to empower Egyptian businesses across their different sizes.

 

Moreover, the Minister highlighted the efforts of the General Organization for Export and Import Control (GOEIC) in approving carbon reduction certificates for exporting companies, and the recent launch of the  Egypt's Financial Regulatory Authority (FRA) of the voluntary carbon market, stressing that all these efforts are integrated in order to enhance the government's vision and increase the competitiveness of the Egyptian product.

 

At the conclusion of the opening session, the Minister of Planning, Economic Development and International Cooperation, and the Minister of Investment and Foreign Trade witnessed the signing of a memorandum of understanding between the GOEIC and Egyptian Environmental Affairs Agency (EEAA).