Egypt to establish commodities exchange in October

CAIRO – 22 September 2019: Egypt is working on establishing commodities exchange in October, according to Minister of Supply Ali Mesalhi.
Mesalhi added in a statement on Sunday that it was agreed that the share of the commodities exchange would be 60 percent for the government and 40 percent for the private sector, clarifying that the general framework was agreed upon with the Egyptian stock exchange.
He stressed that the establishment of the commodities exchange is linked to the logistic areas, and their whereabouts, which is an important part of the internal trade system.
The minister pointed out that there is continuous cooperation with the Federation of Chambers of Commerce and the Egyptian Stock Exchange in this regard.
According to Mesalhi, there are currently 18 areas in Egypt, and logistical areas or distribution chains are being constructed. He noted that the smallest area spans over 25 feddans.
“A further six areas are ready to be launched,” he stated.