Egypt aiming to boost fertilizer exports to African states
Egypt intends to increase its exports of petrochemicals and fertilizers to African states by 10% next year, local media reported on Tuesday, citing the head of the country’s Export Council for Chemical Industries and Fertilizers, Khaled Abul-Makarem.
Abul-Makarem outlined the plan in a speech at the third Intra-African Trade Fair, noting that the council hopes to take advantage of the African Continental Free Trade Area, a tariff-free arrangement designed to deepen regional integration and foster trade and investment.
To this end, earlier in November, the council struck a deal with the Alexandria-based TankOil Group, which will now inspect, test, and certify chemical and fertilizer products destined for export so as to ensure they conform to international standards.
According to Egypt’s trade ministry, the country exported $358mn worth of chemicals and fertilizers to other African nations in the first quarter of 2023.
Official figures also indicate that Egypt exported a total of $3.3bn worth of fertilizers in 2022, which represented a 42% year-over-year increase on 2021’s total.