(3 Minutes Read)
What is of concern for Egypt’s textile manufacturers is the upper hand gained by the Turkish textile manufacturers, despite their competitive wage cost and weak currency. They demand more support from the Government to pep up their advantage over foreign competitors including from Turkey.
While foreign investment is widely welcomed, many Egyptian textile manufacturers are calling for tighter regulation to ensure fair competition.
What is of concern for Egypt’s textile manufacturers is the upper hand gained by the Turkish textile manufacturers, despite their competitive wage cost and weak currency. They demand more support from the Government to pep up their advantage over foreign competitors including from Turkey.
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Textile industry is one of the pillars of the Egyptian economy and contributes handsomely towards its exports, both as raw cotton and value -added textiles. Recently, the government has been focusing on this sector to gain traction in exports. However, the local industry apprehends that the competitive advantage of backward integration- flourishing quality cotton base, local currency value erosion, and competitive wages will be squared off with the aggressive marketing strategies of its competitors like Turkey and India.
