Algerian Industry Minister, Professor Farid Kortel, attended the African Automotive Investment Forum, held in Egypt's New El Alamein city on October 2, 2026. The forum, organized by the African Export-Import Bank (Afreximbank) in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat, brought together policymakers, investors, financiers, original equipment manufacturers, and component manufacturers. The event was held under the theme "Unlocking the Potential of the Automotive Industry in Africa under the African Continental Free Trade Area."
The forum aimed to explore opportunities for investment in the African automotive sector, with a focus on the potential of the African Continental Free Trade Area. Participants discussed ways to develop the industry, enhance trade, and increase economic integration across the continent. Professor Kortel's participation in the forum highlights Algeria's commitment to promoting investment and cooperation in the automotive sector.
On the sidelines of the forum, Professor Kortel held bilateral meetings with Egyptian officials, including Foreign Minister Badr Abdelatty, Industry Minister Khaled Hashem, and Investment and Foreign Trade Minister Dr. Mohamed Fared Saleh. He also met with Tarik Ismail Massad, President of Hyundai Motor Company for the Middle East and North Africa region. These meetings provided opportunities for discussions on cooperation and investment in the automotive sector.
The African Automotive Investment Forum is a significant event that aims to promote investment and development in the African automotive sector. The forum provides a platform for stakeholders to discuss challenges, opportunities, and strategies for growth in the industry. Algeria's participation in the forum reflects its interest in expanding its automotive sector and enhancing cooperation with other African countries.
The Algerian Industry Minister's participation in the forum is part of the country's efforts to promote investment and economic cooperation with other African countries. Algeria has been actively seeking to enhance its economic ties with neighboring countries and to promote investment in various sectors, including the automotive industry.
The African Continental Free Trade Area (AfCFTA) agreement, which came into effect in July 2019, aims to create a single, unified market for African countries, with a population of over 1.3 billion people. The agreement is expected to boost economic growth, increase trade, and promote investment across the continent. The automotive sector is one of the key areas that are expected to benefit from the agreement.
The African Export-Import Bank (Afreximbank) plays a crucial role in promoting trade and investment in Africa. The bank provides financing for trade and investment projects, as well as advisory services to governments and private sector companies. Afreximbank's partnership with the AfCFTA Secretariat in organizing the forum reflects its commitment to supporting the development of the African automotive sector.
Key points
- Algerian Industry Minister attends African Automotive Investment Forum in Egypt to promote investment and cooperation in the automotive sector.
