CAIRO – Minister of Supply and Internal Trade Ali Al Moselhi conferred on Tuesday with Russian Deputy Agricultural Minister Sergey Levin and his accompanying delegation on establishing a logistics free-trade area (FTA) to stockpile wheat reserves in Egypt.
During the meeting, Moselhi asserted that Russia is a strong trade partner for Egypt, noting that the first phase of the FTA will comprise storing a million tons of wheat annually inside Egyptian silos and for some neighbouring countries, according to a statement by the Ministry of Supply and Internal Trade.
The two sides also probed the possibility of founding an Egyptian-Russian company for grain to be a founding stone for realising stability in the strategic commodities stock and maintaining food safety in Egypt and its neighboring Arab and African countries.
They also probed establishing a company for storing cooking oils to reduce the importation costs.
Discussion about this post