Egypt Approves New Export Support Programme: Subsidies Up an Average of 35%, United States Added as Target Market
Egypt's cabinet, at a meeting chaired by Prime Minister Mostafa Madbouly on November 5, approved a new export support programme presented by Minister of Investment and Foreign Trade Mohamed Farid, which raises support by an average of 35%, excluding free zones, and applies to shipments exported since the beginning of November.
The programme adds the United States and a number of Southeast Asian countries to the target markets, and covers 50% of the cost of sea and land freight to Africa, Latin America, Australia, Southeast Asia and Russia, 25% of air freight to Europe, and 50% of air freight of agricultural produce to the United Kingdom, in addition to 25% of the cost of domestic transport and 25% of shipping insurance. Companies are required to submit complete files before they are accepted.
The programme is applied in two phases: the first, a short-term phase before the end of 2026, and the second, a medium-term phase from July 2027. Egypt's 2026/2027 fiscal year budget allocated EGP 48 billion (about 889 million dollars) for export support, compared with EGP 28 billion (518 million dollars) in the previous year.
Mohamed Farid said the programme aims to make support more effective, reduce exporters' costs, raise their competitiveness and open new markets. At the same meeting, the cabinet also approved a draft decision to rationalise public spending in government bodies for three months.
Source: Egyptian Cabinet
Published by GSM · USA (original Chinese edition)
Photo: 图：集装箱船在地中海驶向苏伊士运河。RH 摄，Wikimedia Commons，CC BY-SA 4.0。 / Photo: A container ship in the Mediterranean Sea towards the Suez Canal. Photo by RH, Wikimedia Commons, CC BY-SA 4.0.
