Egypt Strategic Importance in Palm Oil, Cocoa, and Fishery Industries

Palm Oil Magazine
Doc. Palmoilmagazine.com

PALMOILMAGAZINE, KAIRO Egypt has emerged as a significant destination for the export of fishery and sea products from Indonesia. With its vast potential, there is a growing interest in establishing larger-scale business-to-business cooperation between Indonesian and Egyptian businessmen to capitalize on this opportunity.

During a visit to Fayomei for Import & Export in Fashn, Bani Suef, Egypt on Saturday (17/6/2023), M. Syahran Bakti, the Trade Attaché of Cairo, accompanied by the Indonesian Ambassador for Egypt, Lutfi Rauf, expressed optimism about the prospects of strengthening economic ties between the two countries in the fishery sector.

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Egypt’s demand for fishery and sea products from Indonesia presents a favorable market for Indonesian exporters. The Trade Attaché highlighted the potential for enhanced collaboration and urged businessmen from both nations to explore and seize the opportunities available.

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Syahran said, the population of Egypt reached 110 million. This is a chance and should not be missed. “We encourage Indonesia to join food and industry trade exhibition that would run in phase in Egypt,” Syahran said, as in the official statement to Palmoilmagazine.com recently.

Meanwhile the Ambassador of Indonesian Republic for Egypt, Lutfi Rauf is optimist that there would be chance in any condition though the crisis economic happens in the world and inflation is ahead. “Indonesian embassy in Cairo tries to vanish trade barriers, such as, by activating counter trade scheme among the businessmen from the two countries. It would help Egypt importers to get their export markets and there would be good bargaining position,” Lutfi said.

He is also positive that halal product imports from Indonesia, such as, palm oil and its derivative, and cocoa powder, canned sardine fish, canned tuna fish which their import duty is low enough, only 5% and added by value – added tax about 14 percent.

Indonesian Embassy of Cairo had the chance to visit the factory of Al Ryad (A2R) that produces biscuit and snack by applying supporting products from Indonesia, such as, cocoa powder, and cocoa butter substitute (CBS), and white butter. (T2)

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