Discussing the mechanisms of implementation of the new program to stood up the burdens and pay the dues of exporters

Edited by: Amr Ashraf

Amr Nassar, the Minister of Trade and Industry, stated that the file of export development receives periodic support and follow-up from all the governmental organs, on the top of them the Prime Minister himself, especially the implementation of the new program to stood up the export burdens scheduled to start from next July with the budget of the new financial year.
He also stated that that the government has developed a comprehensive plan for the development and enhancement of Egyptian exports to various foreign markets, in partnership with all concerned bodies and ministries and in cooperation and coordination with the other export councils. This was discussed during the meeting that was prepared by the minister with the presidents of the export councils to discuss the mechanisms of implementation of the new program to stood up the burden as well as the position of arrears of exporting companies dues to the Export Development Fund. The meeting was attended by Engineer Hussam Farid, minister's advisor and the general Coordinator of Export Councils ;in addition to, Dr. Amani Al Wasal, Executive Director of the Export Development Fund, and Dr. Amr Taha, Executive Director of the Industrial Modernization Center.
The minister pointed out that the last phase witnessed effective movements by the Ministries of Commerce and Finance to deal with the file of payment of arrears of companies exporting to the Export Development Fund of the companies obligations in the Ministry of Finance, especially tax entitlements, pointing out in this framework that the next phase will witness the start of the mechanisms to pay the dues.
Nassar also pointed out that with regard to the new program to respond to export burdens, the Board of Directors of the Export Development Fund approved the general strategic framework of the New Program which includes material incentives and technical and technological support services that contribute to increasing the competitiveness and technical added to the products manufactured locally and then increasing export rates for foreign markets. He added that the new program was developed in partnership with the export councils as the beneficiaries of the implementation of this program, praising in this context the great role played by the export councils to reach this effective program, which is a major axis for the implementation of the Ministry's plan for the development and promotion of exports.
Hussam Farid, minister's advisor and the general Coordinator of Export Councils, explained that the technical and human resources within the Export Development Fund are currently being upgraded to help them implement the new program through automating the procedures.
Magdy Tolba, Chairman of the Exporting Council for Spinning, also confirmed on the importance of the cooperation of ministries and other responsible entities to put the mechanisms of implementation of the new program to stood up the burdens, pointing out that the main objective councils are seeking through this program to recycle the dues for re-entering the national industry and stimulate investments.