Cairo – The third Intra-African Trade Fair (IATF) opened this Thursday (09) in Cairo. The event runs until November 15 and is held by the African Export-Import Bank (Afreximbank) in cooperation with the African Union Commission (AUC) and the Secretariat of the African Continental Free Trade Area Agreement (AfCFTA).
Egypt’s Minister of Commerce and Industry, Ahmed Samir, said the local government is working in partnership with sister nations to overcome all barriers that could hamper regional economic integration. He also said the Egyptian government spares no effort in sharing its experiences with other African countries, proposing initiatives to develop economic cooperation in the continent.
He added that the government is working to encourage the Egyptian business community to cooperate with entrepreneurs from other African countries to contribute to the trade development in the region, deepening economic integration within the AfCFTA. Samir said Egypt seeks to contribute to serving the African people and helping them improve their standard of living, developing productive capabilities to achieve well-being and prosperity.
The minister emphasized the need to speed up the AfCFTA’s implementation and recalled that the continent’s countries approved it as a unified vision to foster economic development, strengthening Africa’s position on the global stage.
The minister highlighted that the current edition of the IATF has the participation of 75 countries and over 1,600 exhibitors – a unique opportunity to implement trade and investment agreements that could allow greater economic and investment integration on the African continent.
According to Samir, the event represents a real opportunity to open new horizons for cooperation between African countries, given the increase in the number of exhibitors and participating delegations, as well as the events in parallel with the exhibition days. The IATF is also an excellent opportunity to exchange experiences in different areas of cooperation and stimulate the development of various productive sectors in African countries.
Kanayo Awani, vice president of Afreximbank, said creative industries such as music, fashion, sports, and gastronomy generate revenues of USD 2.3 trillion a year worldwide – however, Africa’s contribution to this industry does not exceed 1% of that total.
Speaking at the opening of the IATF, she added that the African continent is full of creativity and untold stories, and the African people have a lot of originality. She explained the coming days would witness the discovery of new African talents in creative industries such as music and others, given many entertainment and creative sectors could generate considerable profits.
Translated by Elúsio Brasileiro
