Egypt Independent

Trade Minister: US should disclose bribe case info



Trade and Industry Minister Rachid Mohamed Rachid said on a talk show Monday that the Egyptian government has asked the US to disclose the name of the Egyptian official allegedly involved in a bribe case by Daimler-Benz.

“The case papers are with the US government and the German company and we should not talk about it until we receive a reply,” he said.

Rachid then went on to talk about the Egyptian economy: “I’m not in favor of a planned economy, but I don’t mind the state owing some means of production if they are able to compete,” he said, noting that China has made economic progress with a centrally-controlled economy, but that the Chinese people did not feel any improvement in their living conditions.

“The problem is that we come from a culture that doesn’t believe in free competition or supply and demand,” he added, pointing out that Egypt is a country rich in resources but poor in resource management.

“The government interferes in the economy to protect low-income groups,” he said, admitting that people in Egypt have also not felt economic improvements.

Translated from the Arabic Edition.