The European Union launched an initiative to increase Egyptian exports through financing a new project launched by the Engineering Export Council.
The initiative aims to rehabilitate Egyptian companies in this important sector in order to reach European markets by focusing on the axis of product innovation and development.
The initiative announced during the conference “Enabling Egyptian Exports by Technology-Transfer Driven Product Innovation” held in Cairo on Monday.
The Egypt Exports through Product Innovation (EEPI) project is funded by the EU and implemented by the Engineering Export Council with the aim of qualifying Egyptian engineering companies to enter the European market through technology-transfer.
The European Union has allocated a grant of 950,000 euros to the project, which is being implemented over an 18-month period.
The EU-funded project aims to assist Egyptian companies in the export stages to Europe by building their capacity to innovate and develop their products according to the needs of European markets.
Edited translation from Al-Masry Al-Youm