However, not only have we not seen an increase in exports, but these may have actually declined. We must address the key factors impeding our export performance. The first has been the poor quality of products. Our products are also more expensive than their foreign counterparts due to the high costs of raw materials, especially of imported production inputs and the high costs of financing investments. Exporters sometimes do not adhere to the specifications stipulated in contracts, or they might fail to deliver commodities at their specified dates.
Transport presents another serious obstacle.
As for Europe, Egypt's major trade partner, the freight rates for Egyptian exports headed for European markets are no cheaper than those for goods coming from other countries. These factors prevent our products from having a competitive edge in export markets. To make exports competitive, the private sector and the government should cooperate in establishing direct maritime lines to our key trading partners. Other important measures include offering exporters reasonable interest rates on loans, efficient maritime insurance schemes and guaranteeing the collection of exports' value through the Bank for Export Promotion and the Egyptian Company for Guarantee Against Export Risks. I suggest that Al-Ahram Weekly initiate a frank and open discussion about the different aspects vital to the promotion of Egyptian exports.