Sherif Zaki, a member of the Gold Division, confirmed that opening the door for exporting gold artifacts following canceling the valuation fees for gold exported abroad will open the way for pumping new investments in the gold industry, providing hundreds of new jobs and operating the sector’s factories, indicating during his speech on the sidelines of the second edition of the International Gold and Jewelry Exhibition. Nabio, which is organized by the Assay and Weights Department and the General Division of Gold and Jewelry of the General Federation of Chambers of Commerce for a period of 3 days, is an opportunity, to respond to the demands of the makers and cancel the valuation fees on the exports of gold artifacts, a wise decision that is in the interest of the national industry.
He added, in exclusive statements, that canceling the valuation fees for gold exported abroad is an important step towards supporting the export of gold artifacts in light of the decline in sales of gold artifacts in favor of bullion and gold pounds, and that work on legislation that facilitates the export of gold artifacts would raise the Egyptian brand abroad and compete in the markets. After the terrible development in the handicraft industry in the Egyptian market.
He explained that the export of gold artifacts will generate large dollar revenues during the coming period, because exporting crude is unhealthy, and we need to export a product bearing the “Made in Egypt” logo.
He explained that the interest of the political leadership and President Sisi is very clear in the national industry, and there is keenness to overcome all obstacles and ways in front of Egyptian products and open horizons for conquering global markets and for export, which will have an impact on the growth of the Egyptian economy, pointing out that all concerned parties provided support to the factories participating in the current version of the Gold Gallery.
He explained that the international markets are witnessing strong competition in quality and price, and the national industry is distinguished by respectable quality. It remains to compete in price quality, and the abolition of valuation fees increases the chances of the Egyptian product to be present abroad.
