CAIRO – The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, signed a partnership agreement with the Industrial Training Council (ITC) (a subsidiary of the Ministry of Trade, Industry and SMEs of Egypt) and Foreign Trade Training Center (FTTC), for the implementation of the “Youth Training and Employment for Trade Project” in the Arab Republic of Egypt. The signing ceremony took place in Cairo last Tuesday.
The agreement was signed by Eng. Hani Salem Sonbol, acting CEO ITFC and Eng. Tarik Kabil, Minister of Trade, Industry & SME's, on behalf of ITC, with the presence of high level representatives from all parties.
The agreement will provide the framework for cooperation between FTTC, ITC and ITFC, particularly for the implementation of the project approved by the 4th meeting of AfTIAS Board which also managed by the association and held in Cairo last December which will be implemented by FTTC. The project aims to achieve inclusive economic growth with increased employment opportunities and greater competitiveness through trade policy reforms in Arab countries as an integral part of the regional trade and economic integration agenda.
Eng. Tarik Kabil said “we believe this partnership with ITFC and FTTC will contribute to decreasing the youth unemployment as well as the development of export competitiveness and sustainability in the global market. Training for export is a very crucial step to achieve the Egyptian Government goal toward export development on one hand and job creation on the other hand.”
Eng. Hani Sonbol said "this partnership is a major milestone toward ITFC’s mandate to enhance member countries’ trade capacities for sustainable national trade development, especially that export acceleration is one of the most important gateways for the Egyptian economic growth due to the impact on the job creation (direct & indirect) and developing value added chains.”
The overall goal of the project is to contribute to decreasing youth unemployment, and to the development of export competitiveness and sustainability in the global market. — SG
