Egypt’s Supply Authority Approves USD 500M Wheat Import Deal With UAE

The Egyptian Parliament has approved a framework agreement between the Ministry of Supply and Internal Trade and the Abu Dhabi Exports Office (ADEX) to support wheat imports for the General Authority for Supply Commodities (GASC).

The agreement provides a USD 100 million annual financing program over five years, totaling USD 500 million, to ensure a steady wheat supply for GASC, ease the financial strain of wheat imports, and strengthen the economic partnership between Egypt and the UAE.

This deal aims to support Egypt's food security, particularly in light of challenges like global price fluctuations and domestic agricultural limitations.