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Thursday, 15 October 2020

Diplomacy + Foreign Trade on 15 October 2020

Topping diplomatic coverage this morning: President Abdel Fattah El Sisi discussed with South African President Cyril Ramaphosa the latest developments of the Grand Ethiopian Renaissance Dam talks with Ethiopia and Sudan, Ittihadiya said, without disclosing any details on the conversation. South Africa, which is mediating the dispute as the current chair of the African Union, is still reviewing Egypt, Ethiopia, and Sudan’s reports on their last round of meetings, but the three countries are in talks on sticking issues, Irrigation Ministry spokesperson Mohamed El Sibai said this week.

Egypt could be part of a revived oil pipeline project linking it to Iraq and Jordan, AlKhaleej Today quoted Jordanian Foreign Minister Ayman Safadi as saying. Jordan and OPEC member Iraq were planning under a 2013 agreement to construct a pipeline between Aqaba and Basra, but the project was never completed. The two countries renewed their agreement this year and stretched plans to Egypt.

Meanwhile, on the foreign trade front, fears of a second wave are spurring more wheat imports: Egypt imported over 3.5 mn tonnes of wheat since the beginning of FY2020-2021, with the current quarter seeing a 64% increase compared to the same period last year as the country braces for a second wave of covid-19, advisor to the Supply Minister Nomani Nasr Nomani told the local press. Current reserves should last six-and-a-half months until the start of the next local wheat season in mid-April 2021, he said, adding this will be supplemented with more imports.

Frozen fava beans will be exempt from a Trade Ministry ban on the export of beans and legumes according to a decision seen by Al Mal. The exemption came in response to industry lobbying efforts after the ministry decided last week to keep the ban, which was originally introduced in March and renewed in June to shore up food security in the early days of covid-19, in place for three additional months.

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