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Exporters should diversify markets as Egypt cuts imports

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Exporters who ship products to Egypt have been advised to improve their competitive edge and/or explore new export markets following the announcement of a plan to slash Egypt’s imports by 25 percent.

An economic analyst from the University of Indonesia said Egypt’s new policy would have an adverse impact on at least 25 Indonesian export commodities, including milk products, food, tableware glass and utensils.

“The Egyptian government has taken the measure in an effort to stabilize import prices,” he said on Tuesday.

The Indonesian Trade Ministry’s director general for foreign trade negotiations said that Egypt wanted to protect its industry by restricting those imported goods that do not meet its standard.

“It should be a concern for Indonesian exporters, they should ensure products to be exported to Egypt do not experience the barriers,” he said.