Chambers of Commerce set the benchmark for reducing commodity prices

Bookmark and Share

Thursday - 7 June 2018 - 9:50 AM


A number of members of chambers of commerce confirmed that the prices of commodities in the market and their change up and down are always subject to supply and demand mechanisms.


Eng. Ibrahim Al-Araby, vice-president of the General Federation of Chambers of Commerce and the Chairman of Cairo Chamber, said that seeking to increase production continuously is an important element to reduce prices and moderate them. The role of chambers of commerce in relation to markets is only awareness. Egyptian law does not allow the Chambers to monitor markets like many other countries. The law must be amended to allow commercial chambers to monitor markets.


Sayedd Al-Nawawy Cairo Chamber’s Treasurer Assistant and Deputy Head of Importers Division said that the support of micro, small and medium enterprises to increase their productivity of various commodities is one of the main axes of increasing supply and lowering prices. He also said that the increase in prices of government services is a burden on commodities and leads to an increase in prices.


Ahmed Yahia, a member of the board of directors of the Cairo Chamber and the former head of the food division said that the next phase needs cooperation from all parties and discuss any problem facing different sectors to increase production in order to increase supply and lower prices.


Dr. Abdulaziz Al-Sayed, head of the poultry division at Cairo Chamber, said that small and micro-enterprises should be supported, such as the poultry sector, which requires real support, whether materially, or introducing a new group of Production system breeders.