Egyptian President Abdel Fattah El-Sisi has reaffirmed his country's commitment to supporting efforts to finance development projects in Africa. Speaking at the 8th Mid-Year Coordinating Summit of the African Union, El-Sisi highlighted the significance of economic integration in achieving peace and stability on the continent. He stressed the need to transform economic integration into a real driver of growth and build integrated value chains within Africa.
El-Sisi called for the full activation of the African Continental Free Trade Area agreement and enhanced coordination between African Union member states and regional economic communities. He also pointed to the importance of learning from successful development experiences, citing the New El Alamein City as a model of what can be achieved through determination and a commitment to development. The city is seen as a symbol of Egypt's efforts to promote development and stability in the region.
The Egyptian President noted that Africa is currently facing a challenging period marked by increasing conflicts and geopolitical tensions. He emphasized the need for enhanced African cooperation and coordination to address crises and challenges, as well as support for peace, security, and development efforts. El-Sisi also reiterated Egypt's stance against external interference in the internal affairs of African countries.
El-Sisi stressed that relations between countries should be based on mutual respect and good neighborliness, with the unity and territorial integrity of states being fundamental principles for maintaining stability on the continent. He also highlighted the importance of cooperation in managing transboundary water resources, which should be based on international law to ensure the achievement of shared interests and the preservation of the rights of riparian countries.
The President emphasized that rebuilding countries affected by conflicts is a crucial component of the African peace and security architecture. He called for a comprehensive approach that prioritizes achieving peace, protecting development paths, and going beyond mere crisis management. This approach is seen as essential for promoting sustainable development and stability in the region.
El-Sisi also touched on the importance of the Africa - El Alamein Business Forum, which was established in collaboration with the African Export-Import Bank. The forum aims to promote African trade and investment, with the goal of mobilizing partnerships, enhancing financing pathways, and stimulating intra-African trade. The event brings together over 20 heads of state and government, as well as leaders from international and regional financial institutions.
The Egyptian President concluded by emphasizing that the summit represents a new step towards enhancing coordination and integration among African countries. He expressed hope that the meeting would lead to the development of mechanisms for crisis management and capacity building, enabling the continent to address challenges and achieve its development goals. The summit is seen as a crucial platform for promoting African cooperation and coordination.
Key points
- Egypt's commitment to supporting African development projects
- The importance of economic integration in achieving peace and stability in Africa
- The need for enhanced African cooperation and coordination to address crises and challenges
