Arab Finance: The Egyptian government has adopted a strategy to meet the needs of three ministries amid rising regional tensions following US strikes in the Gulf region, according to a statement.
Accordingly, Ministries of Investment and Foreign Trade, Supply and Internal Trade, and Agriculture and Land Reclamation are monitoring the latest developments, in full coordination with relevant authorities, to ensure a swift response to the evolving situation.
The ministries are assessing available logistical alternatives, including shifting to sea or land freight depending on the requirements of each market.
The strategy also includes facilitating regulatory and commercial procedures that streamline the redirection of affected shipments and broaden available trade channels.
Concerned entities will also coordinate with supply chains and trading outlets to absorb the additional quantities within the local market while maintaining market stability and balance.
Likewise, the Ministry of Petroleum and Mineral Resources implemented a series of proactive measures to secure energy supplies for the local market.
Also, Prime Minister Mostafa Madbouly followed up on Egypt’s reserves of essential food commodities along with Minister of Supply Sherif Farouk, affirming that the food stock is sufficient to meet domestic demand for several months.