The meeting brought together key stakeholders, including
Ahmed El-Wakil, Chairman of the Federation of Chambers of Commerce; Dr. Alaa
Ezz, Secretary-General of the Federation; Ashraf El-Gazayerli, Chairman of the
Food Industries Chamber; and Dr. Alaa Nagi, CEO of the Holding Company for Food
Industries. Also in attendance were senior representatives from supermarket
chains, food production companies, and heads of local chambers across Egypt.
Farouk highlighted the government’s readiness to support any
initiative aimed at reducing prices, provided it operates within the framework
of a free-market economy. He cited successful initiatives on sugar and oil that
led to lower prices and urged stakeholders to replicate these efforts across
other essential goods.
The minister also noted that regulatory steps have been
taken in cooperation with grocery and bakery unions to ensure fairness and
consumer protection. He praised the Holding Company for Food Industries for
playing a dual role as both producer and distributor in key markets, and for
driving effective pricing initiatives.
Farouk pointed to the success of recently launched “one-day
markets” in narrowing price gaps and improving affordability by reducing
trading layers.
El-Wakil reaffirmed the business community’s commitment to
supporting the government’s goals. He expressed willingness among traders and
producers to cut profit margins in the interest of consumer affordability, and
urged the removal of bureaucratic obstacles to further enhance market
efficiency.
Participants concluded the meeting by affirming their
commitment to implementing agreed-upon measures and advancing collaborative
efforts to provide goods at reasonable prices, in support of food security and
economic stability.