Source: http://www.youm7.com
The head of the Eastern Tobacco Company, Mohamed Othman Haroun, said that his company is one of the pillars of national economy, providing 43 billion Egyptian pounds last year, the second income after the Suez Canal.
He added, during the Third Arab Tobacco Conference, today that the industry is subject to a fierce discouraging attack. He pointed that smuggling and counterfeit cost Egypt 2 to 5 billion pounds in loss annually. Thus there must be an Arab consensus to eliminate illicit tobacco trade and negative phenomena.
He stressed the importance of protecting the industry from the challenges it faces, and taking into account the role of companies in supporting the national economy of each country. As well, he underlined the importance of supporting companies and protecting them from illegal actions, activating the legislative, supervisory and security role in each country, and increase punishment of smugglers.
In turn, Nassif Seklaoui, representative of Lebanon, said that the sector plays an important role in Lebanon, providing the fifth income with annual revenues of $ 450 million dollars, about 10% of the national income.