Cairo:The Cabinet, chaired by Prime Minister Moustafa Madbouly, has approved a new Export Subsidy Rebate Program aimed at modernizing export support and enhancing the competitiveness of Egyptian products in global markets.

According to State Information Service Egypt, the approval is in line with directives from President Abdel Fattah El Sisi during the "Egypt Forum 2026," which called for the modernization of the export subsidy rebate program to support promising sectors. This initiative is designed to address challenges from geopolitical developments and international trade measures affecting Egyptian exports.

Minister of Investment and Foreign Trade Mohamed Farid stated that the program, effective from November, aims to restructure export support in alignment with global economic trends. The program is structured in two phases, targeting short-term growth and medium-term challenges for Egyptian exports.

The program proposes an average 35% increase in export support for eligible sectors, including textiles, agriculture, food, engineering, medical industries, and pharmaceuticals. It also extends incentives to new markets, including the United States and Southeast Asian countries.

The program maintains existing export support rules while requiring complete applications for efficient processing. It also includes a shipping support system covering 50% of transportation costs to targeted countries, enhancing the reach and efficiency of Egyptian exports.