The Egyptian ready-to-wear clothing sector is concerned about the possible risk that could result from liberalizing the sector in accordance with Egypt’s commitments to the World Trade Organization, reported Al-Bayan . The sector controls 25 percent of Egypt’s total exports. Investors claim that now is not the appropriate time to start liberalizing the clothing and textile sectors because the local factories will not be able to adequately compete with foreign brands. They added that fulfilling WTO commitments should not entail the deterioration of the national clothing industry, which generates billions of dollars and employes thousands of workers. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
