Arabian Food Industries (Domty) aims to boost exports to $20m by the end of this year.
Head of international sales, Ahmed Salman, said that Domty has realized exports of $13m in the first half of this year, with plans to reach $20m by the year end.
Domty exports to 46 countries around the world, while planning to expand further and enter 10 new markets in 2019, including China, and the US.
Salman said that Domty directs 10% of production to exports, amid the problems in the domestic market. The company outputs some 200,000 tonnes every year of diary and juices products.
He pointed out that the increase in production costs over the past years has affected the competitiveness of the Egyptian product externally, especially in some important markets such as the African market, amid competition with Turkish, UAE and Pakistani products.
He added that the current political crisis between Turkey and America will show the positive impact on the Egyptian product in the coming period, especially as Turkey is one of the most prominent competitors in many Arab, African, and European markets.
Despite the problems in exporting to Russia, the company still exports 1,500-2,000 tonnes with plans to begin exporting juices in the coming period, he said and stressed the keenness of Domty to attend foreign exhibitions whether to enter new markets or to strengthen its presence in these countries, including Sial World Food, Anuga, and Gulfood.
Salman pointed out that the food industry is part of the national industry and economy, hence there are reforms required in the economy in general to stimulate investment, the first of which is the reduction of interest rates and the support of exporters.
Moreover, he added that there are many countries in the world that have taken similar measures to the measures taken by Egypt to reduce the prices, including the imposition of customs duties on imports in order to protect the local products.
He called on the Egyptian government to focus on the international trade agreements that support the increase of Egyptian exports to control the trade balance and weigh on Egypt’s interest.
Salman stressed the need to pay attention to technical education, which is the base of the economic revival in Italy, along with linking wage to production.
He stressed the importance of activating the role of commercial representation offices abroad and promoting the Egyptian product, pointing out that it is also possible to promote investment in the Egyptian market as an important investment destination in the Middle East and Africa.
He pointed out that the commercial representation abroad is the economic aspect of Egyptian diplomacy and the main arm of the Ministry of Industry and Trade to access foreign markets and open new horizons for agricultural, industrial, and service products in international markets.