Egypt, African Union discuss cooperation in trade, industry, tourism, and minerals

Daily News Egypt
3 Min Read

Egypt’s Trade and Industry Minister Ahmed Samir met with the African Union Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals Albert Muchanga on the sidelines of the Turkiye-Africa Business and Economic Forum in Istanbul. The meeting focused on the cooperation between Egypt and the African Union in various fields.

Samir expressed Egypt’s commitment to the trade and industry agenda in Africa, especially amid the global challenges that have affected the African economies. He also discussed Egypt’s preparations to host the Intra-African Trade Fair (IATF) 2023 in partnership with the Commission and the African Export-Import Bank (Afreximbank). He stressed the importance of having a large participation of African companies, organizations, and institutions in the fair.

He said that IATF is a major trade event that provides an important platform for increasing intra-African trade and attracting more global investments to the continent. He added that the fair is especially significant in light of the changes in the global trade environment due to the disruption of supply chains.

Samir also talked about the Commission’s preparations for the fourth regular session of the Specialised Committee for Trade, Industry, Tourism and Minerals, which will be held in Congo-Brazzaville at the end of November. He emphasized the importance of implementing the decisions made in the areas of industrial and trade cooperation.

Samir said that Egypt and other African countries are keen to use their membership in the Committee to create a strong and unified voice for Africa on international issues, especially regarding economic and trade matters, reforming the international financial system, increasing Africa’s share in global trade, attracting more investments and transferring technology to Africa.

Samir concluded by saying that it is important to strengthen joint efforts to speed up the implementation of the protocols for the African Continental Free Trade Agreement (AfCFTA) and develop key projects on the African Union’s agenda, such as the Union’s basic commodities strategy, green mining strategy project, and e-commerce strategy. He said that these projects are crucial for enhancing African cooperation and integration.

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