The meeting discussed the bank's current and future projects and initiatives in the Egyptian marketز
The ministry is committed to providing all possible support to ensure the success of the upcoming third edition of the African Intra-Trade Fair - Press Photo
Egypt's Minister of Trade and Industry, Engineer Ahmed Samir, held an extensive meeting with Benedict Orama, President of the African Export-Import Bank (Afreximbank), and his accompanying delegation.
The meeting discussed the bank's current and future projects and initiatives in the Egyptian market, as well as preparations for hosting the third edition of the African Intra-Trade Fair in Cairo in November. Minister Samir was joined by Commercial Commissioner Yahya Al-Wathiq Allah, President of the General Authority for Exhibitions and Conferences, May Asal, and Ayman El-Zoghbi, Head of the Trade, Investment, and Corporate Finance Sector at Afreximbank.
The minister emphasized that the ministry is committed to providing all possible support to ensure the success of the upcoming third edition of the African Intra-Trade Fair, which befits Egypt's position and importance in the heart of the African continent. He noted that hosting this fair is part of the ongoing cooperation between the ministry and Afreximbank to support Egyptian companies in various sectors across Africa.
Samir pointed out that the upcoming period will witness further coordination and consultation between the ministry, relevant government entities, and Afreximbank to finalize all necessary arrangements for hosting the fair. He expressed the ministry's anticipation for the success of this important event, which represents a significant opportunity to enhance and develop trade exchanges among all African countries.
The minister also highlighted the importance of promoting regional industrial cooperation and contributing to meeting the African continent's needs with locally manufactured products.
On his part, Benedict Orama, President of Afreximbank, stated that there is close cooperation between the bank and the Egyptian government in various productive sectors. The bank's credit portfolio in Egypt amounts to $6.8 billion.
He emphasized the importance of Egyptian contracting companies benefiting from infrastructure projects implemented annually in African countries, with a cost of up to $60 billion, as the bank contributes to financing these projects.
Orama mentioned that the bank recently launched an official platform that includes all tenders and opportunities related to infrastructure projects being implemented within the African continent. This platform provides more information to Egyptian companies, enabling them to participate in these projects.
It is worth mentioning that the previous edition of the African Intra-Trade Fair, held in Durban, South Africa, in 2021, witnessed contracts worth about $42 billion and attracted around 13,000 business visitors.
The trade fair is an Egyptian initiative, as Cairo hosted the first edition organized by the Ministry of Trade and Industry, represented by the Egyptian Export Development Authority, in cooperation with Afreximbank in December 2018. The event aimed to support economic integration efforts in Africa.
The upcoming third edition of the African Intra-Trade Fair in Cairo reflects Egypt's commitment to enhancing trade and economic cooperation within the African continent.
By hosting this event, Egypt demonstrates its vital role as a hub for regional business and investment. The fair presents a unique opportunity for Egyptian companies to showcase their products and services, foster partnerships, and contribute to the growth and integration of African economies.
