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The International Islamic Trade Finance Corporation under 2nd Phase of the Aid for Trade Initiative for the Arab States (AFTIAS 2.0) Launches STEP Training to Boost the Capacities of Egyptian Exporters
Eng. Hani Salem Sonbol, CEO of ITFC: The training program aims to promote a thriving entrepreneurial ecosystem to diversify Egypt’s economy, enhance the role of the private sector and strengthen the integration of local SMEs into local and global supply chains
The project will assist entrepreneurs in upgrading their products and rendering them competitive, which can help them become more opportunities for exportation
The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), and the Foreign Trade Training Center, part of Egypt’s Ministry of Trade and Industry, launched the STEP 2 training for exporters to boost the capacities of Egyptian entrepreneurs and incorporate their products and services into the global supply chain.
The training program, worth US$ 350,000, is funded by the ITFC and comes under the 2nd Phase of the Aid for Trade Initiative for the Arab States (AFTIAS 2.0) program to support Egyptian youth, exporters, and owners of the small, medium, and micro enterprises.
The launching ceremony took place in the presence of Eng. Hani Salem Sonbol, CEO of ITFC and Chairman of the Board of Directors of AFTIAS 2.0, Mr. Bassel Rahmy, CEO of MSMEDA, Mrs. Mary Kamel, Executive Director of the Foreign Trade Training Center (FTTC), and Mr. Amr Hazaa, Advisor to the Minister of Trade and Industry, Head of the Development Projects Unit.
To improve the performance and competitiveness of the Egyptian economy, STEP 2 aims to nurture a new generation of Egyptian exporters and increase their capabilities, knowledge, and skills in order to enable them to produce valuable products that match market needs.
The FTTC offers an integrated and holistic training program that covers the entire export cycle, equipping entrepreneurs with the skills needed to study and analyze international markets, identify available export opportunities, and prepare a strategic plan for export.
It also covers export logistics, including means of packaging, shipping, transportation, and methods of financing.
Eng. Hani Salem Sonbol said: " ITFC is proud of its strong partnership with Egypt and MSMEDA in launching the training program, which aims to promote a thriving entrepreneurial ecosystem to diversify Egypt’s economy, enhance the role of the private sector and strengthen the integration of local SMEs into local and global supply chains.”
He explained that the economic empowerment of Egyptian youth is the guiding criteria for all of the programs of the ITFC in Egypt in order to help them expand their businesses to reach new markets.
For his part, Basil Rahmi, CEO of MSMEDA, said: “MSMEDA has exhibited a profound interest in cooperating closely with ITFC and the FTTC to kick-start the Project "Training … a Step to Exportation." This project aims to build and foster the exporting capacities of entrepreneurs and give them access to adequate training and connect them with international markets. The project will also assist entrepreneurs in upgrading their products and rendering them competitive, which can help them become more opportunities for exportation.”
For her part, Mary Kamel, Executive Director of the Foreign Trade Training Center, noted that the training center aims to create a new generation of qualified exporters to develop the competitiveness of Egyptian exports in global markets, in order to ensure economic growth and create opportunities for entrepreneurs to start exporting.
She added that the project was set up in line with the objectives of the International Islamic Trade Finance Corporation, aiming to train 600 trainees from all governorates over a period of two years and equip them with the right knowledge, concepts, and skills necessary for exporting.
For his part, Minister Plenipotentiary, Amr Hazaa, Advisor to the Minister of Trade and Industry, affirmed that this project comes in line with the goals of the ITFC and within the framework of the Ministry of Trade and Industry's plan to expand Egyptian exports to US$100 billion.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of people across the world. Commencing operations in January 2008, ITFC has provided more than US$61 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.