Ahmed Samir, head of the Egyptian parliament's economic affairs committee, told reporters the committee has approved on Monday a French grant aiming to develop food wholesale trade markets in Egypt.
"Under this grant, the French Development Agency and the French company Semmaris will give Egypt's Ministry of Supply and Internal Trade a grant of 700,000 euros to provide the technical assistance necessary to develop Egypt's food wholesale markets."
The grant will also provide the Egyptian government with the recommendations necessary to improve food supply in the country, ensure that food products are of high quality and to guarantee that all the necessary logistical services in this respect are provided," said Samir, adding that "the French grant was approved by the president via Decree 404/2020.
Minister of Supply and Internal Trade Ali Moselhi said the French grant is necessary to boost the contribution of the sector of internal trade to Egypt's national income.
"The sector of internal trade is currently contributing 18.5 percent to Egypt's national income and this makes it the second-largest contributor," said Moselhi, explaining that "because of its importance to national economy and income, the sector of internal trade and wholesale markets are in dire need for a new strategy in the form of setting up logistics centres, storehouses, reception areas and mechanised markets.
"The concept of wholesale markets has developed, and in Europe wholesale markets have become like small cities, including giant infrastructure and recycling factories," said Moselhi, adding that "for these reasons, the government approved the French grant in March to draft a new strategy for the internal trade sector and improve food wholesale markets in Egypt."
Moselhi said the grant will be used by Semmaris to help set up a number of European-style food wholesale markets throughout Egypt, provide technical assistance and skills to human cadres to operate these markets."