Nadim Elias, Chairman of the Export Council for Printing, Packaging and Paper (ECPP), highlighted the numerous potentials of the Egyptian market that promote exportation.

He made the remarks during the 7th Forum on Strategies for Transition to Green Economy – dubbed the 7th Green Economy Forum – which kicked off on Tuesday under the theme of “The Transition C-Panel”.

Elias noted that the cost of labor and financial factors encourage many foreign companies to invest in Egypt and open export channels to foreign markets.

Regarding the green economy, Elias expounded that accessing foreign markets is not solely dependent on cost and price; there are also additional environmental requirements, such as Carbon Border Adjustment Mechanism (CBAM) certificates imposed by Europe on imported products.

The ECPP head expounded that exportation of food products to European markets could be disrupted due to the type of packaging and paper used.

He added that paper producers are now required to clarify the source of their raw materials, while ensuring protecting forests and reforestation.

Elias added that the European market is very important for Egyptian companies, highlighting the importance of ensuring that raw materials used in different industries meet the required standards.

Thanks to Egypt’s plan to rely on solar and wind energy, manufacturers will be able access new markets, he added.