Egypt planning new company ahead of commodities bourse launch

Egypt plans to launch a new company designed to implement plans to set up the country’s first commodities trading exchange, the supply minister Ali Moselhy said on Tuesday.

The country has completed the feasibility studies and action plans to launch the bourse after President Abdel Fattah al-Sisi’s approval, Moselhy added.

Egypt, the world’s biggest importer of grains, plans to launch an agricultural-focused commodities trading exchange, the first of its kind in the Middle East. The move would benefit the North African country to turn this point of weakness into a strength by becoming a point of exchange for the whole region.