Minister of Investment and Foreign Trade Mohamed Farid Saleh met on Tuesday with Minister of Supply and Internal Trade Sherif Farouk, Minister of Agriculture and Land Reclamation Alaa Farouk, and Chief Executive Officer of the Future of Egypt Sustainable Development Authority Bahaa El-Ghannam.
The meeting was held as per the directives of President Abdel Fattah El Sisi to strengthen the food security system and regulate key commodity markets.
Discussions focused on aligning policies and coordinating efforts to further activate the Egyptian Mercantile Exchange as a central mechanism for regulating the trade of essential commodities. The initiative aims to enhance market stability, promote transparency and discipline, and align Egypt with global trends in trade and supply chain management through the digitalisation and governance of trading procedures.
The minister of investment said that the current phase requires full coordination among state entities, noting that the ministry is working to digitalise and upgrade the trade system to enable data-driven decision-making and support the expansion of Egyptian exports into new markets. He added that the Mercantile Exchange represents a vital instrument for regulating the circulation of key goods.
For his part, the minister of supply affirmed that all entities are operating in team spirit, describing the Mercantile Exchange as a long-awaited and pivotal step that has received strong backing from the political leadership. He noted that activating the exchange will enhance the efficiency of managing strategic reserves of essential commodities, including wheat, rice, oil, and meat, which are currently available at reassuring levels that support domestic market stability.
Meanwhile, the minister of agriculture highlighted the critical importance of the Mercantile Exchange in strengthening food security and controlling prices, affirming full coordination among relevant entities to launch an integrated system that ensures the efficient and equitable delivery of goods from producers to consumers.
In the same context, the CEO of the Future of Egypt Sustainable Development Authority stated that the development of the Mercantile Exchange comes at a crucial time amid global supply chain challenges, noting that Egypt’s commodity trade exceeds $50 billion annually.
