Egypt’s Minister of Trade and Industry Ahmed Samir has met with President of the African Export–Import Bank (Afreximbank) Benedict Oramah and his accompanying delegation. The meeting reviewed the bank’s current and future projects and initiatives in the Egyptian market.
They also discussed the preparations for Cairo hosting the third edition of the Intra-African Trade Fair (IATF) next November.
The minister said that the ministry is keen to provide all possible support for holding the third edition of the upcoming IATF in a manner that befits the status and importance of Egypt in the heart of the African continent.
Holding the fair comes within the permanent cooperation between the ministry and Afreximbank to support Egypt’s companies in Africa in different sectors, according to the minister.
Samir noted that the coming period will witness more coordination and consultation between the ministry, concerned authorities in the country and the Afreximbank to finalize all necessary arrangements to host the exhibition to increase trade exchange between the continent’s countries.
Oramah said that there is close cooperation between the bank and the Egyptian government in large productive sectors.
He revealed that the volume of the Afreximbank’s credit portfolio in Egypt amounts to $6.8bn, highlighting the importance of benefiting construction companies from Egyptian infrastructure projects that are implemented annually in countries of the African continent at a cost of up to $60bn, especially since the bank contributes to the financing of these projects.
Oramah pointed out that the bank recently launched an official platform that includes all bids and opportunities related to infrastructure projects that are being implemented within the African continent, which contributes to providing more information to Egyptian companies to participate in these projects.
The last edition of IATF was held in Durban, South Africa in 2021, and concluded with $42bn deals and was visited by approximately 13,000 business visitors.