Egypt shows commitment to intra-African trade development amid tariff reductions

CAIRO - 9 November 2023: Egypt is strongly interested in achieving comprehensive development after the recent reduction of customs tariffs to enhance intra-African trade, according to Minister of Trade, Ahmed Samir.

This came during his opening speech at the activities of the Annual African Trade Summit, IATF2023, which Egypt is hosting in its third session, in the presence of Benedict Orma, President of the African Export-Import Bank, Afrexim Bank, and representatives of the African Union.

Samir said that the current version of the exhibition comes in light of very difficult international and regional challenges since the coronavirus pandemic, which continues to cast its shadow on the global economy in general and African countries in particular, as well as in light of difficult regional circumstances in light of the events that the region is currently witnessing.

Samir pointed out that what is being discussed in the current session of the exhibition coincides with the end of the first ten-year plan of the continental development plan, the implementation of which aims to strengthen the continent’s position in the global economy.

He added that the government is working to encourage the business community in neighboring African countries in a way that achieves economic integration, enhances the implementation of the Continental Free Trade Area, and reflects the well-being of the African people.

The Minister explained that the Egyptian government is looking forward to more agreement and cooperation with neighboring African countries in a way that contributes to achieving comprehensive development for all African countries.

Samir stressed Egypt’s keenness to enhance comprehensive economic cooperation between African countries.

He explained that the Egyptian state is keen to be a major party in all the activities that take place on the continent, which contribute to enhancing economic cooperation between countries.

Samir expressed his hope to exploit the activities of the intra-African trade exhibition to achieve agreements and contracts that contribute to increasing trade and industry between the countries of the continent.