Aiming to increase the competitiveness of Egyptian products
Juhayna participates in Gulfood to expand in MENA
Thabet: Exports represents 6% of Juhayna’s sales in 2018… A progressive plan in 2019 to invade new foreign markets
Cairo, February 17, 2019: Juhayna participated in the 24th edition of Gulfood – World’s largest annual food & beverages trade show. This year’s participation came in line with the company’s export expansion strategy and Egypt vision 2030 that aims to increase economic growth rates, improve the quality and competitiveness of national products and increase exports to regional and global markets.
“Our participation for the sixth year in a row reflects our keenness to promote our products at one of the most important F&B exhibitions in MENA. The exhibition offers a strategic opportunity for Egypt to enhance its trade exchange volume with various countries around the world, including the Middle East and Africa,” Saif Thabet, Juhayna’s CEO, said.
The total value of Egyptian exports reached $26.5 billion by the end of 2018. Egyptian food industry exports represented $2.8 billion in 2018, accounting for 13% of the total non-petroleum Egyptian exports, Thabet added.
Last year results showed an increase in profits of 107% year on year to reach 408 million pounds, where exports represented 6% of the company’s total sales. “We aim to raise 2019’s results through an expansion plan to invade new foreign markets, including Libya, Iraq, Lebanon, Jordan, Palestine, Malaysia and some African countries such as Ethiopia, Ghana, Congo, Liberia, Cameroon, Somalia and the Middle East,” explained Thabet.
Around 140 major Egyptian food and agricultural companies participated in Gulfood 2019, held at the Dubai World Trade Center from 17 to 21 February.