Tensions between Egyptian manufacturers and importers increased yesterday after the Ministry of Commerce and Industry restrict the import of 50 commodities.
Earlier this year, the Minister of Industry and Trade, Tarek Kabil, issued the decision which includes some food products, cosmetics and garments. According to the decree, the items cannot be traded unless they are produced by factories registered at the ministry.
In a statement issued yesterday, Mohammed Al Suwaidi, chairman of the Federation of Egyptian Industries, said the industry is the backbone of improving the economic climate, adding that stability and growth rely on developing procedures for the development of small and medium enterprises so as to provide employment opportunities.
However, the Importers Division at the Cairo Chamber of Commerce warned that price rises would come into play following the ministry’s decision.
Consumer would be the first victim of this decision, it said, which would have many implications at several levels, most notably on the stability of the markets and the availability of goods and products.