Five French textile companies are set to visit Egypt on 10 November. The
companies will be accompanied by representatives of the French Association for
the Textile Industry. The delegation will explore investment opportunities and
ways of joint cooperation with Egypt in the fields of vocational and technical
training.
Mary Lewis, vice president of BTM Group, a member of the Egyptian-French
Business Council told Daily News Egypt that the Textile Export Council and its
French counterpart will sign a memorandum of understanding )MoU) to transfer
the technical and professional expertise to Egyptian factories and develop
Egyptian textile industries
She added that the visit of the French delegation will include tours within
Egyptian factories to see the Egyptian cotton spinning industry closely,
activate the trade exchange movement and increase the volume of Egyptian
textile exports .
Among the most prominent companies that will visit Egypt is Eminence, which
has investments of €100m, as well as Deveaux, which has investments of €74.2m,
next to Verne with investments of €4.5m, and Tenthorey with investments of
€10m .
Lewis stressed the importance of complementary industries, which greatly
affects the country’s trade balance and drains a great deal of efforts and
money in importation, resulting in a rise in the price of local products .
She added that the majority of large factories need many complementary
industries. For example, the textile industry needs to manufacture hangers,
buttons, and zippers, which are being imported, either because of the scarcity
or lack of complementary factories. A similar situation is across all other
industries
She called for the establishment of small and medium-sized enterprises
SMEs) for young people through the establishment of a complex of complementary
industries to various sectors in one of the industrial areas, which will save a
lot for manufacturers and will reflect on the development of investments and
reduce imports and support the Egyptian exports
She explained that the Business Council, in addition to its work to attract
large investment projects to work in the Egyptian market, targets a new segment
of investors to establish SMEs and to support the national economy and
stimulate trade exchange between the two countries
Lewis pointed to the ongoing talks between the Egyptian side and French
technical schools to develop technical approaches to be taught in Egyptian
factories and technical schools, with a focus on handicraft industries, which
have been disappearing
“She said that the major development projects, led by the network of roads
and bridges implemented by the state, are some of the most attractive factors
for investment. She expected these projects to contribute to an investment
growth in Egypt .”
“Lewis expressed her pride that the BTM Group and all of its factories are
100% Egyptian and have managed to reach global levels, making it possible for
the group to support the Egyptian economy, raise exports, and bring more hard
cash to Egypt .”
“The group exports 80% of its products to several countries, including the
US, Canada, Italy, and France .”
“Lewis aims to increase production capacity by 15-20% in 2018 .”
“Brands like Mary Lewis and Te Marie Bishara of BTM were the first Egyptian
brands on global markets and have fashion shows in Paris. The latter brand is
100% made of pure Egyptian cotton and exports most of the quantity to France,
whose residents love Egyptian cotton .”
“Lewis explained that the production lines hold ISO certificates in all five
factories for suits, shirts, pants, and women wear, next to the specialised
factory that produces global brands, such as Next, Zara, and Calvin Klein (CK).
The company designs and produces outfits for the largest international hotels,
including the Four Seasons, the Meridian, and San Stefano .”
“BTM factories rely on imported yarn besides the local ones .”
“BTM Group has established a technical school in one of its factories in 2008
that accommodate 300 students training on the use of latest machines to produce
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Date:10/25/2017
Source:Turkish Weekly