Egypt’s previous minister urges governments to rethink metho…

Written by on January 23, 2023

(MENAFN) Rachid Mohamed Rachid, Egypt’s previous minister of trade and industry, has cautioned around the danger of moving away from the international economy, stating that “a lot of what we have enjoyed as consumer societies in the last 10 to 20 years has been due to globalization.”

While giving a speech to Arab News, the founder of Alsara Investment Group — one of the top firms functioning in the sector of consumer goods, luxury, as well as fashion — stated that administrations globally need to restudy their method in exchange to stay away from “pulling back” what has been established during the last few decades.

Rachid went further on to say that “Globalization, unfortunately, even before the pandemic, has been facing very serious challenges.

Egypt’s previous minister continued: “We never imagined that we would see an American administration coming and imposing sanctions, and tariffs and restrictions on trade, without any institutional logic.”


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