Egypt's Industry Modernisation Centre pitches textile partnerships to Moroccan investors

Egypt's Industry Modernisation Centre (IMC), which reports to the Ministry of Industry, has discussed investment and partnership opportunities in textiles and ready-made garments with a delegation of Moroccan investors and business people, Egyptian outlet Egy In reported on 7 October.

The head of the centre's textile industries sector held a series of bilateral meetings with the Moroccan visitors on the sidelines of the 82nd edition of the Cairo Fashion & Tex exhibition at the Cairo International Convention Centre, according to the report.

The delegation then visited the IMC's headquarters in the New Administrative Capital. There, the centre presented Egypt's investment incentives, the capabilities and production capacity of its textile and garment sector, and answered questions about expansion opportunities. The two sides also discussed possible industrial partnerships in other fields, the report said.

Egy In said the meetings form part of the centre's wider effort to attract industrial investment and expand partnerships with Arab and African markets. No company names, investment amounts or agreements were disclosed.

Cairo Fashion & Tex, which opened earlier this month, brought together hundreds of Egyptian exhibitors and foreign buyers, and the IMC used the show to meet visiting investors.

What it means for Egyptian exporters

Morocco is one of Egypt's closest rivals for European nearshoring orders, so Moroccan interest in Egyptian capacity is a sign that regional producers see Egypt as a complementary base rather than only a competitor. Both countries belong to the Agadir Agreement, which gives room for cross-border sourcing of fabrics and garments. Egyptian mills and garment makers looking for joint ventures, or for new channels into French- and Spanish-speaking buyers, may find the IMC's textile sector a useful first contact.