Egypt and Switzerland have signed a cooperation agreement to provide technical and financial support for the Egyptian textile and clothing sector by applying the GTEX international programme with a total fund of SwF 1.5 million (about $1.5 million). The agreement will help in developing ties between the two countries besides enhancing their economic, financial, and technical cooperation. In addition, it will help in implementing Egypt’s strategy to boost the competitiveness of industrial sectors.
The main objectives of the agreement, which will be in force until December 31, 2021, are: create more job opportunities, improve income levels for workers in the sector, and increase the added value of products and services, as well as increase exports in both new and traditional markets.
The GTEX programme is being implemented in Egypt, Morocco, Tunisia, Kyrgyzstan, and Tajikistan, and is funded and supported by the Swedish government, while the Egyptian government is providing 10 percent of the total fund.
