Minister of Industry and Trade Rachid Mohamed Rachid on Wednesday welcomed steps by authorities to institute a commercial code of ethics in Egyptian trade circles.
“The present environment fails to grant respectable traders the honor they deserve,” Rachid told members of the administrative council of the Cairo Chamber of Commerce. “We, as a government, have a role to play in changing this reality. But traders themselves are an important part as well, through their commitment to the code of ethics."
Rachid emphasized the government “seeks to shatter symbols of corruption and expel those violating the honor of the trade community” in an effort to “purge” the system of “dishonorable” traders.
The government will spare no effort to impose laws necessary to enforce the code, he added. Rachid, however, labeled the role that the Chamber of Commerce and traders play in "confronting dishonorable traders with the utmost courage” as the most important factor in the equation.
Rachid claimed the government strongly opposes products, regardless of their source, that fail to meet regulations. He stated his regret that "those without a profession go to China to obtain shipments and sell wholesale goods that don’t conform to regulation,” while accusing the proliferation of such trade as “drowning the country” in economic “chaos."
Rachid vowed to regulate hours of operation, saying such a move falls within the purview of government responsibility. "We are reviewing and studying the idea of instituting an appropriate system for hours,” he added. “The goal is finding a system of regulations which serves everyone’s interests.”
Rachid announced his ministry is currently preparing “the necessary steps for presentation to local councils and governorates.” He expressed hope for putting public interests over private concerns.
