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China-Africa Trade Information Service
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China-Africa Trade Information Service
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Ready-Made Garment & Textile Chamber of the Federation Of Egyptian Industries - FEI signed a cooperation protocol with the International Finance Corporation (IFC) of the World Bank.
The protocol aims to develop value chains in the technical and specialized textile industry in Egypt, as it is one of the most important markets that has a significant competitive advantage in this field.
The technical and specialized clothing industry is the most important emerging field, which enjoys a rapidly growing global market in light of the technological and informational developments and the entry of artificial intelligence and other fields that were able to combine the function of traditional textiles with more modern ones, such as sports textiles equipped with sensors capable of measuring heartbeat and oxygen levels, or others related to medical and safety textiles, and textiles for automobile feeding industries such as seats and airbags, automobile textiles, construction and infrastructure projects, and many other fields.
“The choice of the International Finance Corporation for Egypt, given that it is one of the promising markets in the manufacture of high-tech textiles and clothing,” Head of the Chamber, Mohamed Abdel-Salam, stated.
He added that the signed protocol aims to support the growth of this sector in Egypt, where the IFC will work in cooperation with the Chamber in rehabilitating factories and providing them with the technologies, technical expertise and studies required to master these industries, while providing vocational training to raise the capabilities of workers in those specialized fields.
According to Abdel-Salam, this comes with the aim of integrating Egypt within the global supply chains in that industry, especially since we possess the required raw materials and production inputs.
Head of the Chamber emphasized the importance of signing the protocol, which confirms the Chamber's keenness to keep abreast of global developments in this field, and to enter into various specialized fields of production to achieve added value and high export revenues compared to traditional fields, which is reflected in the numbers of Egyptian exports of ready-made clothes and textiles.
For his part, Oumar Sylla, IFC's Regional Director for North Africa and the Horn of Africa, said that Egypt has promising opportunities to expand value chains in the technical and specialized textiles industry in emerging markets regionally and internationally.
He explained that this program, in partnership with the Ready-Made Garments & Textiles Chamber, aims to attract foreign direct investments to Egypt amounting to $50 million by 2026, by supporting local companies to provide the growing demand for technical textile products.
“Some Egyptian factories have turned to manufacturing technical products, and we will work through the protocol to increase their manufacturing capabilities by providing studies and technical consultations, as well as attracting foreign investments so that Egypt will be a station for manufacturing these raw materials in the Arab region and surrounding areas,” Sylla said.
