The El Alamein Declaration was announced by Ahmed Wakil, president of the African Chambers of Commerce, Industry, Agriculture, and Professions, at the close of the Africa El Alamein Forum. The declaration aims to transform the African private sector's vision into actionable plans and measurable economic outcomes. It is built on a new two-year action plan for the African Chambers of Commerce, aligning with the strategic objectives of the Africa El Alamein Forum.
The African private sector plays a crucial role in the continent's economy, contributing around 70% to the gross domestic product, 80% of total production, and providing about 90% of employment opportunities. The African Chambers of Commerce represents over 170 million companies across the continent. According to Wakil, the declaration seeks to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) agreement, boost intra-African trade and exports, and attract foreign direct investment and modern technologies.
The El Alamein Declaration focuses on converting African economic integration into tangible trade, investment, and technology flows among countries. It aims to remove barriers to business, open new markets for African companies, especially small and medium-sized enterprises and startups. The declaration also seeks to foster cooperation with international partners, leveraging a partnership between the public and private sectors, with the support of African governments and international development and finance institutions.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, and leaders of African chambers and business communities attended the forum. The minister emphasized the importance of collaboration between African countries to achieve a secure, stable, and prosperous Africa. The Africa El Alamein Forum has become a platform for governments, the private sector, and development and finance institutions to converge and drive African economic integration.
Dr. Ala'a Ez, Secretary-General of the African Chambers of Commerce, outlined the four main pillars of the El Alamein Declaration's action plan. These include supporting policies and coordinating trade, enhancing market access and trade development, focusing on digital transformation and legal services, and attracting foreign investment and promoting international cooperation. The plan also targets empowering small and medium-sized enterprises, developing human resources, and enhancing food security, renewable energy, and infrastructure.
The success of the El Alamein Declaration will be measured by its tangible outcomes on the ground. The African Chambers of Commerce will present the progress of the action plan during the second edition of the Africa El Alamein Forum. The declaration has been endorsed by the NEPAD Heads of State and Government, who acknowledged its potential to drive Africa's economic growth and development.
The Africa El Alamein Forum has established itself as a periodic platform for governments, the private sector, and development partners to converge and drive African economic integration. The forum aims to ensure that Africa's economic potential is harnessed to create a brighter future for its citizens. The El Alamein Declaration represents a significant step towards achieving this goal.
Key points
- The El Alamein Declaration aims to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) agreement and boost intra-African trade and exports.
- The African private sector contributes around 70% to the continent's gross domestic product and provides about 90% of employment opportunities.
- The declaration's success will be measured by its tangible outcomes on the ground, with progress to be presented during the second edition of the Africa El Alamein Forum.
