Internal trade contributes 18% to GDP - minister

CAIRO - 16 July 2020: Supply and Internal Trade Minister Ali Meselhy said on Thursday that internal trade contributes 18 percent to Gross Domestic Product (GDP) though 12 percent of the figure is through unorganized trade.

The minister, speaking at a webinar on domestic trade and the private sector, said internal trade is one of the biggest sectors in Egypt that provides many jobs but it still suffers from an inadequate infrastructure.

As part of the ministry's plan to develop internal trade, he said lands were put up for sale in 18 governorates under the usufruct system with grace periods ranging between 1 to 3 years.

He added that the ministry has an ambitious plan to set up logistics and commercial areas inside the governorates and along borders.

He said a partnership agreement was signed with Rungis, the largest French company specializing in the management of wholesale markets in Europe, to rehabilitate and develop wholesale markets in Egypt.