Egypt's former Deputy Foreign Minister Youssef El-Sharkawy has hailed the inauguration of the El Alamein Africa Business Forum by President Abdel Fattah El-Sisi as a significant milestone in Egyptian-African relations and African cooperation. The forum aims to convert ambitions and initiatives into tangible projects benefiting the continent's populations. El-Sharkawy noted that the event has substantial political and economic momentum, with several African leaders, officials, and business leaders in attendance.
The forum has drawn around 1500 businessmen, underscoring growing interest in enhancing cooperation among African nations. El-Sharkawy highlighted the event's focus on bolstering the role of Africa's private sector in manufacturing and increasing the value added to natural resources. Integrating the business community and major company heads into development and investment projects, alongside financial institutions and governments, is crucial.
El-Sharkawy emphasized the significance of Egyptian-South African relations, citing the establishment of the Egyptian-South African Business Council as a platform for promoting economic cooperation. Both countries are members of the BRICS grouping, which offers opportunities for collaboration and investment. He stressed that Egypt's diplomatic efforts do not separate political and economic tracks but link them through partnerships combining the private sector, governments, and financial institutions.
According to El-Sharkawy, achieving economic development in Africa requires a stable and sustainable environment. He noted that security and development are closely linked, with stability being a prerequisite for attracting investments and implementing long-term projects. The former diplomat highlighted the importance of the El Alamein forum in supporting the African Union's Agenda 2063 and the African Continental Free Trade Area.
The El Alamein Africa Business Forum provides a platform for discussions on critical issues affecting the continent's economic growth. El-Sharkawy's remarks reflect Egypt's commitment to fostering economic cooperation and collaboration within Africa. The forum's focus on translating initiatives into concrete projects aligns with efforts to boost intra-African trade and investment.
As the African continent seeks to strengthen economic ties, events like the El Alamein forum play a vital role in promoting dialogue and cooperation. El-Sharkawy's insights underscore the need for a comprehensive approach to economic development, incorporating both public and private sector stakeholders. The forum's outcomes are expected to contribute to the ongoing efforts to enhance Africa's economic integration and global trade presence.
The Egyptian government's efforts to promote economic cooperation with African nations are part of a broader strategy to strengthen ties with the continent. The El Alamein Africa Business Forum is a key initiative in this regard, aiming to create new opportunities for collaboration and investment.
Key points
- The El Alamein Africa Business Forum aims to convert ambitions and initiatives into tangible projects benefiting the continent's populations.
- The forum focuses on bolstering the role of Africa's private sector in manufacturing and increasing the value added to natural resources.
- The event supports the African Union's Agenda 2063 and the African Continental Free Trade Area.
