GAZA CITY, Gaza Strip — The Ministry of National Economy in the Gaza Strip announced Oct. 31 the cancellation of exclusive commercial agencies granted to a number of traders. These traders had monopolized the importation of some basic commodities, such as baby formula, gluten-free wheat and cleaning products, as well as some nonbasic commodities, under exclusive agency agreements between them and foreign companies.

The ministry said the decision, which will become effective at a maximum of six months, would curb rising prices in favor of consumers.

Undersecretary of the ministry in Gaza, Ayman al-Abed, told the Palestinian Press Agency that the monopoly by a large number of traders over commodities and their prices in Gaza triggered the decision to cancel exclusive agencies. "The ministry called on traders to regularize their situation before the entry into force of the decision, within six months at the latest, in consultation with their respective legal counsel," he said.

The decision to cancel exclusive agencies stirred the wrath of companies with exclusive importation licenses, many of which attempted to pressure the ministry into reconsidering its decision. Some traders tried to use their connections with senior officials at the ministry, but to no avail.