Economy

Egypt: We Are Ready to Host a Global Grain Supply and Storage Center

Egypt: We Are Ready to Host a Global Grain Supply and Storage Center

Egyptian Foreign Minister Sameh Shoukry expressed his country's readiness to cooperate with the international community to host a global grain supply and storage center, contributing to combating the global food crisis. This was stated in a recorded speech delivered by Shoukry on Friday during the ministerial meeting of the "Voice of the South" conference, under India's presidency of the G20.

Ahmed Abou Zeid, spokesperson for the Egyptian foreign ministry, mentioned that Shoukry's speech comes in the context of India's invitation for Egypt to participate as a guest in the G20 meetings. According to the spokesperson, Shoukry affirmed Egypt's support for the agricultural working group's objectives within the G20 to devise a roadmap for food security and climate-smart agriculture.

Shoukry highlighted the importance of the G20 in providing the necessary momentum to reshape the international economic system to respond effectively and promptly to the challenges faced by countries in the Global South. He expressed Egypt's commitment to constructively engage in discussions and initiatives presented within the G20 framework to reach consensus on the current complex challenges.

World leaders and international organizations have raised concerns about an impending and widespread food crisis since the onset of the Ukrainian crisis, pointing to disruptions in supply chains and crop production setbacks. It is noted that Russia and Ukraine account for approximately 30% of global wheat exports, 20% of corn, and 76% of sunflower oil.

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