Egypt's textile industry is geared for further growth, after acquiring  € 80 million EU funding, in which € 19.5 million is used for industry restructuring and development.

The € 80 million - given in four installments - that the European Union earmarked to support the restructuring of the Egyptian spinning industry two years ago is being effectively utilized, with €19.5 million being used by the Ministry of Investment to help restructure the sector and retrain workers, while the remainder is being used to privatism and modernism the public sector spinning and weaving companies in Egypt.

The Egyptian Government has also extended their support to the local textile industry by abolishing all tariffs on imported textile machinery and reducing tariffs on imported threads and other supplies for the industry.

Textile exports also have been receiving a boost following several international bilateral agreements with leading importers of textile products such as the USA and EU. At present there are 4,250 weaving, textile and clothing manufacturers in Egypt, with their production accounting for 26% of national industrial revenues and 24% of industrial exports.

Total Egyptian exports of ready-made clothing itself are estimated at US $448 million per annum, making Egypt the world's 38th largest garment exporter.