Egypt adopts clear vision for enhancing economic ties with Africa

SHARM EL SHEIKH, Egypt - 6 August 2018: Minister of Trade Amr Nassar on Monday stressed that Egypt has been one of the leading manufacturers and exporters in Africa since the 1940's.

His remarks came while addressing the third session of annual meetings of the African Caucus for the World Bank (WB) and the International Monetary Fund (IMF) which kicked off on Sunday in the Red Sea resort city of Sharm El Sheikh under the theme "Lessons learned from export support and diversification".

The session, held under the aegis of Prime Minister Moustafa Madbouli, was attended by Chairman of the Federation of Egyptian Industries Mohammed Al-Suwaidi, Rwandan Minister of Finance and Economic Planning Uzziel Ndagijimana and Chairman of Oxford International Consultants Nikhil Treebhoohun, among other regional and international representatives.

Over the past few years, Egypt has witnessed a remarkable growth thanks to the measures taken by the government to improve the business environment and facilitate trade licensing, Nassar told the audience.

The session took up several issues including the role of export councils in the enhancement of Egyptian exports and opening new markets especially in African countries, the minister said in statements after the meeting.

Nassar noted that the government seeks to make the optimum use of trade deals concluded with African states, underlining the government plans to market competitive products in more than 10 African countries.

The government also aims at encouraging several investors in certain sectors to invest in some African countries, Nassar pointed out.

Suwaidi referred during the session to some hurdles preventing the full and effective implementation of Egypt's trade agreements with its fellow African nations.

He emphasized the important role that can be played by the political leaderships in African nations in the furtherance of Egypt's trade and industrial cooperation with African partners.