Egyptian Representative Amr Rashad, a member of the Senate and head of the Giza Central Sector of the Homeland Defenders Party, highlighted that President Abdel Fattah El-Sisi's address at the first "El Alamein – Africa Business Forum" reflects Egypt's clear vision for redefining economic cooperation among African nations. This vision focuses on transitioning from traditional relationships to actual partnerships based on investment, production, trade, and knowledge sharing.
President El-Sisi outlined the core challenge facing African economies: despite having vast resources, markets, and human potential, the continent struggles to capitalize on these assets due to barriers to trade and investment, inadequate infrastructure, and limited private sector capabilities. Rashad emphasized that the forum's true value lies not only in serving as a platform for dialogue but also in its potential to transform discussions into tangible partnerships, projects, and investment opportunities that span across the continent.
The participation of the business community, financial institutions, and entrepreneurs, alongside policymakers, provides the forum with a crucial opportunity to transition from general visions to actionable, measurable paths. Rashad stressed that enhancing intra-African trade should be a primary focus moving forward, as increased trade in goods, services, and investments among African nations is essential for building a more integrated and resilient African economy.
The African Continental Free Trade Area agreement opens up significant opportunities for Egyptian and African companies. However, fully leveraging this agreement requires the development of transportation, logistics, energy, and communication systems, as well as simplifying procedures for investors and providing information and guarantees to help companies, particularly small and medium-sized enterprises, expand into African markets.
Egypt possesses valuable experience in building infrastructure, developing cities and industrial zones, and providing logistical services, which can be transformed into added value in cooperation with African nations through knowledge transfer and joint projects. Rashad highlighted that the youth represent a crucial factor in Africa's economic future, with the continent needing to channel its human potential into technical education, technology, innovation, entrepreneurship, and digital economy.
The real bet for Africa in the coming years is to convert its large population into a productive economic force, requiring comprehensive policies for human investment, linking education to labor market needs, encouraging start-ups, and opening up opportunities for youth to participate in value chains and production at the continental level.
The selection of the new El Alamein city to host the forum reflects Egypt's experience in transforming promising areas into attractive urban and economic centers for investment. Hosting such events in Egypt provides the African business community with a broader space for networking, building relationships, and exploring direct cooperation opportunities.
Key points
- Egypt emphasizes the need for Africa to transition from traditional cooperation to tangible economic partnerships.
- The African Continental Free Trade Area agreement requires infrastructure development to be fully leveraged.
- Egypt's experience in infrastructure development can be a valuable asset in cooperation with African nations.
