«Exporting furniture» demands the Minister of Industry to resolve the crisis of receivables exporters

«Exporting furniture» demands the Minister of Industry to resolve the crisis of receivables exporters

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The Council of Export of Furniture called on the Minister of Industry to intervene to solve the problems of accumulating the dues of exporters in the Export Development Fund, which recently reached about 10 billion pounds.

"The furniture sector is suffering from a drop in furniture exports by 4 percent between January and August 2018, to record only $ 220 million," said Ehab Dreas, chairman of the board.

"The accumulation of dues was one of the reasons for the decline, especially after the accumulation of dues for about two years, which led to the fact that many companies stopped submitting new forms to the Fund to despair of the payment of dues.

On the other reasons behind the decline in exports of the furniture sector, «Deras» that it is the new rules for the program to support participation in exhibitions, which were adopted without supply to the export councils are not aware of the various requirements of sectors, especially furniture, which caused the decline of the number of Egyptian companies participating in International exhibitions to a degree reached the absence of Egypt's participation in many exhibitions, including Milan International Furniture Exhibition, which is the summit of the furniture industry in the world, where it provides the Egyptian companies with many opportunities to win export contracts.

He added: "The growth of the sector contributes to the provision of about one million new jobs, attracting at least $ 1 billion in investments and adding $ 4 billion to Egypt's exports over the next five years according to the new strategy for the development of the furniture sector until 2025 prepared by the Export Council The Industrial Modernization Center, the Chamber of Wood Industry and Makari Consulting Company.

He added: "The new strategy has set seven main objectives for the sector, namely to increase the rate of growth of industrial production of the furniture sector from 5% to 7% currently to more than 8% per annum, the growth rate of the industrial sector for all, while reducing the sector's imports by working on To reduce the proportion of imports from 60 to 70% of the total domestic production currently to less than 40% in the final product, while increasing the contribution of domestic feed industries in the final production from 5 to 10% currently to 15 or 20%.

"The strategy includes creating a new executive body to work on policy coordination, standardizing policies, and issuing and updating regulations and laws governing the activity of the sector," said Islam Khalil, a member of the Export Council.

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