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02:37

Egypt is seeking to raise annual exports from about $48 billion to $100 billion by 2030 as it works to narrow its trade deficit and increase foreign-currency earnings. A key challenge is the concentration of exports, with about 50 companies accounting for nearly half of the country's total exports. To broaden the export base, the government has launched the Egypt Export Initiative, expanding its reach beyond key industrial centers around the capital, Cairo, to smaller producers across the country. The initiative provides businesses with information, financial support and guidance on foreign markets, quality standards and pricing. It initially targets governorates including Gharbeya, Port Said and Damietta, with plans to expand countrywide within a year.

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Egypt targets $100 billion exports by 2030