Tue, 18 Jan 2022

© Provided by Xinhua

With around 10 percent growth in plastics demand in the past few years, Egypt is attaching greater importance to increasing plastics production and attracting foreign investors.

CAIRO, Jan. 10 (Xinhua) -- More than 300 plastics industry firms from over 20 countries gathered in the Egyptian capital Cairo to showcase their raw materials, machinery, and semi-finished products in Egypt's 18th International Plastics Exhibition (PLASTEX).

The four-day expo, started on Sunday, is an important exhibition for the plastics industry in the Middle East and North African (MENA) region. Dedicated to the plastic machinery, components, raw materials and chemicals in the Middle East, North Africa and East Africa, the fair also presents products and services, technologies and innovations, and trends for trade markets.

Held at the International Exhibition Center in Cairo, the fair is expected to attract some 22,000 professionals seeking business opportunities.

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Mubarak said that the fair gives the company direct access to dealers, importers, potential agents and buyers who are looking for quality products.

"The fair helps us demonstrate our products, explore new business opportunities, and examine key developments in the region," he added.

According to Egypt's Chemicals and Fertilizers Export Council (CEC), the country has witnessed around 10 percent growth in plastics demand in the past few years.

Currently, Egypt mainly depends on imports to meet the demand for plastics. The Egyptian government is attaching greater importance to increasing the domestic production of plastics and inviting foreign investors.

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According to a recent report by Mordor Intelligence, a leading international market intelligence and advisory firm, the total plastic product market in the MENA region is worth 42.8 billion U.S. dollars and is projected to grow to 54.6 billion U.S. dollars by 2025.

As MENA's biggest market, Egypt stood at 6.9 billion U.S. in 2019, representing 17 percent of the market, according to the report.

For buyers seeking business opportunities, the fair will enable them to source new goods and product lines from exhibitors on the spot, negotiate contracts, and sign agency and distribution agreements.

© Provided by Xinhua

"The exhibition helps me find new technologies and the most cutting-edge machinery used in the plastics industry," Mohammed al-Hady, owner of a small-scale plastics workshop in Cairo, told Xinhua.

"The fair is important as it allows me to meet hundreds of manufacturers and suppliers of the new equipment, technology, products and raw materials," he added.

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