Cairo keen to enhance co-operation with African countries
Egypt’s Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdel-Aati, and Tanzania’s Minister of Foreign Affairs and East African Co-operation Mahmoud Thabit Kombo, opened the Joint Egyptian-Tanzanian Business Forum.
The event featured participation of several key Egyptian businessmen and a high-level delegation representing various sectors, including construction, chemical industries, agriculture, pharmaceuticals, medical supplies and maritime transport.
There was also broad participation by businessmen from Tanzania and representatives of the Ministry of Investment, as well as MPs from both sides.
Addressing the forum, Minister Abdel-Aati stressed the importance Egypt attaches to bolstering economic and trade co-operation with the African countries, as well as encouraging the Egyptian companies to intensify work at all levels to promote development in Africa, and create real partnerships based on mutual benefit.
He highlighted Egypt’s industrial and commercial capabilities that enable it to provide the development needs of the African continent. He pointed in this regard to the Egyptian Export and Investment Guarantee Agency,which was established to encourage local companies to consolidate their presence and increase investments in African markets.
In addition, the Egyptian chief diplomat reviewed the country’s manufacturing capabilities to provide the needs of the African countries in various sectors, including food products, industrial and chemical goods, wood products, and construction supplies.
He highlighted the activities of Egyptian companies in the field of construction and electricity networks in Africa, especially in Tanzania.
Abdel-Aati referred to the capabilities of the Egyptian pharmaceutical sector and the products it can offer in the Tanzanian market at competitive prices.
He urged Tanzanian businessmen to seek concluding a partnership with the Egyptian private sector and consider co-operation in commercial and industrial fields to increase trade exchange and establish joint agricultural and industrial projects.
Minister Abdel-Aati referred to the trade agreements between Egypt and several other countries, mainly the Common Market for Eastern and Southern Africa (COMESA). He also stressed the Egyptian government’s keenness to co-operate with foreign companies to provide the necessary information on investment opportunities in the country.
The foreign minister highlighted support to the private sector’s role in leading economic development, as well as the investment opportunities available in the Suez Canal Economic Zone, with the major aim of establishing the most important logistics centres in the region.
