Mohamed El-Argawawy, head of the Customs Committee at the General Federation of Egyptian Chambers of Commerce, emphasized that enhancing cooperation with African countries is crucial for increasing Egyptian exports, opening new markets for companies, and supporting joint projects and investments that achieve mutual benefits. He stressed that maximizing the benefits of available opportunities in the continent requires facilitating trade, reducing costs, and developing transportation and logistics systems.
El-Argawawy highlighted the need to transition from agreements and negotiations to practical economic and commercial partnerships that identify African market needs, connect Egyptian companies with their counterparts in African countries, and provide necessary information on export and investment opportunities, customs procedures, and market entry requirements. This will help expand the base of those benefiting from available opportunities, especially small and medium-sized enterprises.
The "El Alamein - Africa Business Forum" provided an important opportunity to open new avenues for cooperation between Egyptian and African business communities, enhance communication between investors and companies, and explore opportunities for establishing joint commercial and investment partnerships. El-Argawawy emphasized the importance of building on the opportunities provided by the forum to convert them into practical projects and agreements that contribute to increasing trade and enhancing mutual investments.
Egypt has the potential to play a pivotal role in African trade due to its strategic geographical location, network of ports and logistics areas, and infrastructure development in recent years. This enables Egypt to connect African markets with global markets and supports its aspirations to become a regional hub for trade, distribution, and logistics. El-Argawawy stressed that simplifying customs procedures is essential for developing intra-African trade by streamlining customs clearance procedures, reducing time and cost, and expanding digital transformation.
El-Argawawy also emphasized the importance of developing logistics connections between Egypt and African countries by enhancing integration between seaports, land routes, and logistics centers, and developing multimodal transportation systems. This ensures that goods reach target markets more efficiently, helps regulate supply chains, and encourages companies to expand cross-border trade and investment. The stability of sea routes, particularly the Red Sea and Bab al-Mandeb Strait, is also crucial for the smooth flow of trade with African markets.
Stability and a clear business environment are essential for attracting investments to African markets, as investors need to ensure the continuity of production, transportation, and trade, as well as the flow of capital. El-Argawawy concluded that converting cooperation opportunities with African countries into tangible economic results requires the integration of efforts from governments, the private sector, and financing institutions, prioritizing the simplification of customs procedures, logistics development, and trade information exchange.
Key points
- Simplifying customs procedures is crucial for boosting Egypt's trade with Africa.
- Developing logistics connections between Egypt and African countries can help increase trade and investment.
- Stability and a clear business environment are essential for attracting investments to African markets.
