The African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC), the African Continental Free Trade Area (AfCFTA) Secretariat, and the Ministry of Trade & Industry of Egypt hosted a high-level business roadshow on November 8, 2022, in Cairo, Egypt. The roadshow was held in advance of the Intra-African Trade Fair (IATF 2023), which is scheduled to take place from November 9-15, 2023, in Cairo.
The theme of the roadshow was “Promoting Egypt-Africa Trade and Investment Under the African Continental Free Trade Area (AfCFTA).” The event brought together captains of industry, the business community, high-level government officials, the diplomatic community, as well as executives and senior officials of Afreximbank, AUC, and AfCFTA Secretariat to discuss how the IATF is playing an instrumental role in boosting and promoting trade and investment opportunities under the AfCFTA between Egypt and the rest of Africa.
In his opening remarks, Chief Olusegun Obasanjo, Chairperson of IATF2023 Advisory Council and Former President of the Federal Republic of Nigeria, highlighted the importance of the IATF in promoting intra-African trade and investment. He said that the IATF is a unique platform that brings together African businesses from all over the continent to connect, network, and do business. He urged the business community to take advantage of the IATF to explore business opportunities and to contribute to the growth and development of the African economy.
Benedict Oramah, President and Chairperson of the Board of Directors at Afreximbank, said that the IATF was created to fast-track Africa’s economic integration through the AfCFTA. He added that the IATF is a key opportunity for African businesses to take advantage of the single market of 1.3 billion people created by the AfCFTA.
Albert Muchanga, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, said that the AfCFTA is a historic opportunity for Africa to boost its trade and investment. He urged African businesses to seize the opportunity presented by the AfCFTA to expand their markets and to grow their businesses.
Yahia El-Wathik, Egypt’s Deputy Minister of Trade and Industry, said that the Egyptian government is committed to promoting intra-African trade and investment. He said that the IATF is a key event for Egypt and that the government is fully committed to supporting the event.
The roadshow concluded with a panel discussion on the opportunities and challenges of doing business in Africa. The panelists discussed the importance of infrastructure, trade facilitation, and investment promotion in promoting intra-African trade and investment.
The IATF2023 roadshow was a valuable opportunity for the Egyptian private sector to learn more about the opportunities and benefits of participating in the IATF2023. The event is not to be missed for importers and exporters looking to take advantage of a single market of 1.3 billion people created by the AfCFTA with a combined Gross Domestic Product of $3.5bn.
