Minister of Industry and Trade Tarek Kabil said that a major Lebanese company in the field of fashion design has entered into a contract with an Egyptian company for the manufacturing of clothing in a contract worth $3m. Under the contract, the Egyptian company will supply ready-made Egyptian clothing and garments to the markets of Lebanon, Dubai, and countries in West Africa.
In an emailed press release, Kabil explained that the Egyptian company will handle all manufacturing of the Lebanese company’s designs.
This cooperation comes within the framework of the “Egypt-Lebanon to Africa” initiative, which is the nucleus of the Arab-African economic cooperation based on achieving Egyptian-Lebanese integration to benefit from the distinguished Lebanese presence in Africa to promote Egyptian exports in various markets of the continent.
Kabil noted that the Lebanese company is designing fashion for a number of important Lebanese institutions, including airlines, hotels, and government institutions in Lebanon and is currently targeting the supply of fashion designs to Dubai and a number of West African countries, pointing out that cooperation will be a great opportunity to spread Egyptian products in these markets.
The minister stressed the keenness of the Ministry of Industry and Trade to strengthen the joint trade relations between the Egyptian and Lebanese business communities, especially in light of the support of the two countries’ governments for joint trade and investment cooperation during the next phase, not only at the bilateral level, but also to enter other markets.
He praised the role of the Egyptian Commercial Office in Beirut in achieving this cooperation between the two companies by promoting Egyptian exports in the Lebanese market and striving towards achieving industrial integration between the two countries.
Source: Daily News Egypt