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SheTrades aims to connect 3 million women, entrepreneurs, to markets by the end of 2021
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The Egyptian chapter of the project will focus on supporting women in the handicrafts sector
Women’s economic empowerment initiative, SheTrades, which aims to connect 3 million women entrepreneurs to markets by the end of 2021, has been launched in Egypt by the International Islamic Trade Finance Corporation (ITFC) in partnership with International Trade Center (ITC).
ITC’s SheTrades is present in 25 countries and provides women entrepreneurs and women-owned SMEs around the world with a unique network and platform to connect to markets.
The ITFC, which is a member of the Islamic Development Bank (IsDB) Group, backs several projects and programs, particularly the Aid for Trade Initiative for the Arab States, which support trade facilitation, youth employment, capacity support, addressing non-tariff measures, and skills development for Egyptian exporters.
Hala El Said, Egypt’s minister of planning and economic development, said the SheTrades Egypt project was specifically designed to empower women economically by focusing on supporting entrepreneurs in the handicrafts sector.
“This sector is an extremely important target, as one out of every five Egyptian companies in the handicraft sector is owned by a woman,” she said.
The SheTrades initiative will focus on increasing the participation of 50 small and medium enterprises owned by Egyptian women in the export-oriented value chain.
The project will enhance the capabilities of women-led small businesses through training in production, packaging, logistics, trade information, quality management, marketing, and sales for a specific sector. The selected SMEs will also benefit from the best export practices and directly communicate with export markets and buyers.
ITFC CEO Hani Salem Sonbol said that according to a McKinsey Global Institute report, $28 trillion could be added to global GDP by 2025 by advancing women’s equality.
“Placing women at the heart of ITFC’s priorities through the SheTrades initiative works beyond than just connecting women entrepreneurs to markets, but more importantly to identify rising global trends and exploit new technologies and environments, such as the digital economy and virtual learning, to open up important economic opportunities for women,” he said.