Sisi reiterates importance of securing sustainable, innovative financing for development projects
President Abdel Fattah El-Sisi said Africa’s economic integration had become a strategic choice and an urgent necessity for overcoming the continent’s challenges.
He stressed the need to accelerate economic and trade integration and strengthen co-operation among African countries.
President Sisi made the remarks on Sunday during the closing session of the eighth African Union (AU) Mid-Year Co-ordination Meeting, held in New Alamein, Presidency Spokesman Ambassador Mohamed El-Shennawy said.
He said the meeting’s discussions had highlighted the progress made towards continental integration, as well as efforts to strengthen co-ordination between the AU, regional economic communities and other regional mechanisms.
At the same time, the discussions reflected the scale of the challenges facing the continent, which require stronger collective action and continued co-operation, President Sisi said.
“The final declaration adopted by today’s meeting provides us with a clear roadmap for advancing regional and continental integration,” Sisi said.
He stressed the importance of accelerating economic and trade integration through the full implementation of the African Continental Free Trade Area (AfCFTA), while boosting supply chains and logistics corridors and developing transport and energy networks.
The president also underlined the urgent need to secure sustainable and innovative financing for development programmes and projects in co-operation with African financial institutions, according to the presidency spokesman.
Sisi said sustainable development, economic growth, peace and security were closely interconnected. He called for stronger conflict-prevention efforts, improved early-warning mechanisms and greater support for post-conflict reconstruction and development.
In this regard, President Sisi called for enhancing the role of the African Union Centre for Post-Conflict Reconstruction and Development, based in Cairo, and increasing its budget to enable it to operate more effectively.
Sisi also highlighted the importance of engaging the private sector in advancing Africa’s economic and trade integration.
He said the first Alamein Africa Forum, which opened on Saturday, provided an important opportunity for African leaders to hear directly from private-sector representatives about ways to support economic integration. The president reiterated the importance of making the best use of the African continent’s human and natural resources and promising investment opportunities.
The forum also offered an opportunity to discuss proposals for creating a legislative and executive environment that would attract and encourage investment, the president added.
Sisi expressed his appreciation to Burundian President and AU Chairperson Évariste Ndayishimiye for his leadership of the bloc during the current year and for his management of the meeting.
He also thanked Mahmoud Ali Youssouf, chairperson of the AU Commission, as well as the heads of regional economic communities and mechanisms and AU Commission officials, for their efforts to advance regional integration.
President Sisi reaffirmed Egypt’s full commitment to working and co-operating with other African countries to build a safe, stable and prosperous continent.
