As part of the state's efforts to regulate markets and stabilize prices, Dr. Mohamed Awad Ibrahim, Chairman of the Internal Trade Development Authority (ITDA), held an expanded meeting with representatives from the French Development Agency (AFD) and the Egyptian Ministry of Finance. The meeting focused on tracking and accelerating the financing and establishment procedures for the first global-standard wholesale market in Egypt.
The meeting was attended by Mr. Mohamed Ashmawy, Manager of Agriculture, Rural Development, and Food Security at the AFD Egypt office, and Dr. Ater Hanoura, Head of the PPP Central Unit at the Ministry of Finance. From ITDA, attendees included Mr. Karim El-Shafei (Vice Chairman), Mr. Amr El-Sammak (GM of Internal Trade Development), and Mr. Ahmed Gouda (Investment Researcher).
This meeting aligns with the government's direction to modernize internal trade infrastructure. Wholesale markets play a pivotal role in organizing commodity circulation, reducing intermediaries, and providing products to citizens at fair prices and high quality, which directly impacts the stability of the Egyptian market.
Dr. Mohamed Awad Ibrahim reviewed the latest developments in joint cooperation, following the Letter of Intent signed between the governments of Egypt and France. This intent aims to finance technical assistance for developing a comprehensive plan for wholesale markets in Egypt.
The parties reaffirmed the tripartite agreement signed between the Egyptian Ministry of Supply, the AFD, and the French company "Semmaris"—a world leader in managing wholesale markets—to implement the technical assistance program for food wholesale trade development.
The meeting also addressed proposed financing models provided by the AFD. The Ministry of Finance expressed preliminary approval for these models, paving the way for expedited implementation through Public-Private Partnership (PPP) mechanisms.
Dr. Awad concluded by welcoming the attendees and stressing the importance of finalizing executive procedures. He noted that the project will significantly improve supply chain efficiency, reduce food waste, and support the state's efforts in achieving food security and price stability.
This project is a strategic step toward establishing a modern, organized network of wholesale markets in Egypt, aligning with international best practices and contributing to the sustainable development of the commercial sector.
