|
Using Environmental and renewable
energy technologies enhances in medium term the
profitability of businesses and makes them globally
competitive. Innovative technologies can greatly reduce
production costs through saving or rationing energy and
other raw materials. This is especially important since oil
and gas prices are now on the rise. Complying with European
and international environmental legislation is essential for
Egyptian exporters, as 90% of internationally traded goods
are subject to environmental standards. Compliance provides
Egyptian companies with direct access to European and US
markets. Companies which produce particularly
environmentally-friendly can be awarded eco-labels. This
ensures growing sales in foreign markets, as European and US
consumers are becoming increasingly aware of environmental
standards.
Egypt has particularly promising prospects for the
development of renewable energy technologies. Due to its
significant endowment with renewable energy resources, Egypt
has the potential to become a regional trading hub in the
renewable energy technologies sector. Capacity building in
solar and wind technologies may allow Egyptian suppliers and
consultants to export equipment and services for renewable
energy projects in the MENA region. Egypt even has the
potential to export energy produced from regenerative
resources. The government projects that 50% of Europe's
energy consumption will be generated from solar and wind
energy plants in the Middle East by 2050.
Industrialized countries also benefit from Egyptian
companies' efforts to up-grade their technologies, as this
provides European and US companies with a new export and
investment market. The rapid growth of Egypt's economy
results in growing demands for cleaner production and
renewable energy technologies. Increasing production of
these technologies will lead to economies of scale and the
development and refinement of the material.
|
|
