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Chambers of Commerce: stability is our top priority - Daily News Egypt

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Chambers of Commerce: stability is our top priority

Heads of Chambers of Commerce emphasise the need for stability regardless of referendum’s results


The heads of the Egyptian Chambers of Commence are in consensus that whatever the result of the referendum, the most important goal is achieving stability for trade to flourish.

“Whatever the result will be, the most important thing is to achieve stability especially that the economy is passing through a very hard time,” said the head of Alexandria’s Chamber of Commerce, Ahmed El-Wakiel.

El-Wakiel added, “we are witnessing a state of Egyptian divide, and the only way to reach stability will be through reconciliation.”

Salah Taha, the executive head of the Giza Chamber of Commerce said, “stability is the biggest concern for traders; many traders have their own comments on the constitution, they all agree on the need for stability.”

Taha continued, “Egyptians should accept the final result of the referendum, and not resort to protests and violence which will impact the economy negatively…whatever the result will be, it will lead to the dissatisfaction of a great number of people.”

Within the same context Abdallah Qandil, head of North Sinai’s Chamber of Commerce, said that traders are looking forward to a result that can improve their situation.

“The constitution dashed traders’ hopes, as it didn’t specify the country’s economic identity, especially when it comes to development and trade. The focus on economic identity is very important since it is the best way for investors learn about the Egyptian economy.”

“I will vote against the referendum, however I expect ‘Yes’ will be the result of the referendum, as the crowds of people voting for the referendum seem stronger, especially since they exploit religion to influence the voters,” said Qandil.

Mohamed El-Masry, deputy chairman of the Union of Egyptian Chambers of Commerce said, “we desperately need to achieve stability and without it, we will find ourselves in a huge problem.”

El-Masry added, “the constitution decides the labour relations in society so everyone can be in agreement, which is why it shouldn’t be determined based on the majority and the minority.”

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