The "Alexandria Declaration" was announced by Ahmed El Wakil, President of the African Chambers of Commerce, Industry, Agriculture, and Professions, at the end of the Africa Alexandria Forum. The declaration aims to provide a framework for the African private sector's actions in the coming phase and a roadmap for promoting economic integration, increasing trade and investments between African countries. The forum was attended by Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, and leaders of African chambers and business communities.
According to El Wakil, the declaration reflects the African private sector's vision of transitioning from agreements and initiatives to executive mechanisms and measurable economic outcomes. The sector contributes around 70% to the continent's GDP, 80% of its total production, and provides about 90% of job opportunities. The African Chambers of Commerce union brings together national chamber unions from African countries, representing over 170 million companies.
The "Alexandria Declaration" aims to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) agreement, increase intra-African trade and exports, attract foreign direct investments and modern technologies, and enhance cooperation with international partners. The declaration seeks to convert African economic integration into actual trade, investments, and technology flows between countries, removing obstacles to the business community and opening new markets for African companies.
Dr. Ala'a Ezz, Secretary-General of the African Chambers of Commerce, Industry, Agriculture, and Professions, stated that the declaration's action plan is based on four main axes. The first axis focuses on supporting policies and coordinating trade, including promoting integration between regional economic blocs and supporting trade agreements. The second axis aims to access markets and develop trade through organizing continental trade fairs and business-to-business meetings.
The third axis focuses on digital transformation and legal services by developing digital trade frameworks and enhancing alternative dispute resolution mechanisms. The fourth axis targets attracting foreign direct investment and promoting international cooperation by preparing sectoral investment projects and papers. The plan also includes empowering small and medium-sized enterprises and start-ups, developing human resources, and reducing digital and gender gaps.
Ezz emphasized that the success of the "Alexandria Declaration" will be measured by its tangible outcomes on the ground. The implementation of the action plan will be showcased during the next session of the Africa Alexandria Forum. El Wakil stressed the support of the African Chambers of Commerce union and its national member unions for the continuation and development of the forum.
The Africa Alexandria Forum serves as a platform for governments, the private sector, and development finance institutions to converge and transform African economic integration into tangible results in trade, investment, and job creation. The forum aims to become a periodic gathering that brings together key stakeholders to promote economic cooperation and development across the continent.
Key points
- The African private sector has launched the "Alexandria Declaration" to boost economic cooperation and integration across the continent.
- The declaration aims to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) agreement and increase intra-African trade and exports.
- The success of the declaration will be measured by its tangible outcomes on the ground, with the implementation of the action plan to be showcased during the next session of the Africa Alexandria Forum.
