Egypt ready to help deepen economic integration among African countries: PM

CAIRO – 21 July 2024: Prime Minister Mostafa Madbouli said Sunday Egypt is ready to help deepen economic integration among African countries and promote development efforts to improve life for all people across the continent.

This came in a speech the Egyptian premier gave during his participation, on behalf of President Abdel Fattah El Sisi, in the 6th African Union Mid-Year Coordination Meeting which is being held in Accra, Ghana, in light of Egypt’s current presidency of the New Partnership for Africa’s Development (NEPAD).

Madbouli highlighted NEPAD’s role in promoting regional and continental integration under the Agenda 2063, during a session that witnessed the presence of Mohamed Ould El Ghazouani, President of the African Union, Nana Akufo-Addo, President of Ghana, and Moussa Faki, Chairperson of the African Union Commission.

the premier pointed out that the African continent, despite the successes it has achieved over the past years in terms of development, peace and security, still faces several security, economic and development challenges.

He noted that the threats and risks facing the continent have been compounded by the growing state of international polarization and geopolitical challenges, starting from the brutal Israeli aggression on the Gaza Strip and its extended effects on the security and safety of navigation in the Red Sea, up to the Russian-Ukrainian crisis in addition to the growing global economic and financial uncertainties and the failure to fix the global financial system.

The prime minister added that the last African Summit, which took place in February, approved the second ten-year plan for implementing the 2063 Agenda that will only be achieved through the collective efforts of everyone, and in cooperation with partners of African countries around the globe, in accordance with African priorities.

Madbouli highlighted the pivotal and important role played by the NEPAD in enhancing regional integration, through implementing the African Development Agenda and regional and continental projects, and providing funding for them.

He stressed Egypt's commitment to continue coordinating with the agency's secretariat to advance the African agenda and develop efforts aimed at enhancing regional and continental integration, including achieving the priorities of Egypt’s NEPAD presidency.

These priorities include accelerating the activation of the Continental Free Trade Agreement, enhancing member states benefit from it, and linking it with the infrastructure development program in Africa, in addition to supporting the nexus of peace, security and development, he said.

“Our responsibility as African countries, is to work, in cooperation with the African Union Commission, its agencies, and its various bodies, to develop partnerships with the countries of the world so that we will be able to achieve our main goals, which include serving the development priorities and interests of the continent and its peoples along with stimulating its economic growth,” he elaborated.