Egypt’s CFEC strikes deal with TankOil Group to boost country’s fertilizer exports
Egyptian media reported on Monday that the country’s Chemical and Fertilizers Export Council (CFEC) and the Alexandria-based TankOil Group have agreed to work together to assist CFEC member companies in exporting their chemical products and fertilizers to international markets.
Under the deal, TankOil will inspect, test, and certify products destined for export so as to ensure they conform to global standards.
According to Daily News Egypt, the Executive Director of the CFEC, Mohamed Mageed, said that the partnership with TankOil will play a significant role in affording the country’s exporters greater access to international markets.
The CEO of Tankoil Group, Ayman El Tatawy, noted, meanwhile, that the agreement is consistent with the Egyptian government’s desire to augment export levels while increasing the contribution of non-petroleum products to GDP.
According to official statistics, Egypt exported $3.3bn worth of fertilizers in 2022 and $2.2bn worth in 2021.