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THE FUTURE OF THE TEXTILE SECTOR
IN EGYPT
CONFERENCE BY THE EUROPEAN COMMISSION ON 29 NOVEMBER
H.E. Eng. Rashid Mohamed Rashid, Minister of Trade and
Industry and H.E. Dr. Klaus Ebermann, Ambassador of the
Delegation of the European Commission in Egypt, will
inaugurate on Wednesday, 29 November at the Nile Hilton
Hotel at 9:00 a.m. a conference on the future of the
textile sector in Egypt. The conference is organised by
the Delegation of the European Commission in Cairo and
the GTZ, and will be attended businessmen, donor
agencies, federations, ministries and other
organisations.
The Delegation of the European Commission in Egypt is
providing €80 million [EGP 580 million] to assist Egypt
in the implementation of a sector strategy for the
spinning and weaving sector. This large programme aims
at contributing to the creation of conditions for a
growing, profitable and competitive textile sector in
Egypt. It also aims at improving exports
competitiveness, financial soundness and managerial
performance. €40 million have already been disbursed to
the Egyptian government to start these activities.
During the one-day conference, several detailed topics
will be discussed. Regarding the competitiveness of the
Egyptian textile sector, a new strategy for the Egyptian
textile industry will be presented, in addition to
cotton processing, spinning and weaving, the
restructuring of El Mehalla El Kubra spinning and
weaving company, as well as the issue of design in
textiles and ready-made garments.
Another important topic to be discussed are labour pools
and social redundancy. Building on the Social Fund for
Development’s experience in the treatment of social
redundancy, a contract was signed in March 2005 between
the Ministry of Investment and the Social Fund for
Development in order to establish labour pools which
provide employment to redundant staff from the Holding
company for Cotton and Textile affiliates. This project
is monitored by the Labour Adjustment Committee which
recommends to the labour pool the general policies,
strategies and guidelines under which it runs its
operations including details about compensation for
workers who opt to leave the companies.
ENDS
Contact: Germaine Demian
Press and Information Officer
Delegation of the European Commission in Egypt
Tel:3749 46 80
germaine.demian@cec.eu.int |