Head of the Federation of Egyptian Chambers of Commerce (FEDCOC) Ahmed El Wakeel on Friday said an institute for trade and trade exchange will be established in Egypt.

In statements, Wakeel said the institute will be launched in April in all governorates.

He added that the institute will be launched according to an agreement with the minister of supply and internal trade and the Arab Academy for Science and Technology.

Wakeel said that the development of the internal trade sector would reduce wastage by more than 30% in some commodities, leading to price cuts by the same percentage.

He added that results of a survey carried out to measure the impact of decisions taken by the government during the last period on development, economy, and growth, as well as monetary policies will be announced within 10 days.