Trade minister, director of Welspun discuss ways to attract textile investments to Egypt

The Egyptian government is keen on attracting more textile investments to the country, particularly in Upper Egypt, Trade and Industry Minister Tareq Qabil said Wednesday. 

Egypt will be working with a number of experienced foreign partners to upgrade the textile industry to meet international demands, Qabil said in a meeting with Rajesh Mandawewala, the managing director of Welspun India Ltd., currently visiting here.

Qabil and Mandawewala probed cooperation opportunities between Welspun and Egyptian textile companies.

They also discussed means to increase the input of Egyptian cotton in Welspun products.

Qabil said textile is considered one of the promising industries in Egypt, given the competitiveness of Egyptian cotton.

Egypt is keen on increasing portions of cotton-cultivated land with the aim to up exports, Qabil said.

The government is also working to further hone the competitive edge of Egyptian textile products on international markets through upgrading the production, storage, export and marketing processes, the minister added.

He stressed the need to build on the good reviews about the internationally certified Egyptian cotton, which in some cases is mixed with other low-quality cotton in a way that negatively affects its reputation.

Mandawewala, for his part, called for establishing a Welspun factory in Egypt to benefit from textile incentives in the Arab country, atop of which skilled labor and raw materials.

Welspun Ltd. is seeking to enhance its presence on the Egyptian market and to work with local partners to promote Egyptian cotton abroad, Mandawewala said.

He added that he got firsthand information about the different phases of production and treatment of Egyptian cotton.

Source: MENA