Sisi Opens African Business ForumSource: www.export-egypt.com 2/20/2016, Location: Africa |
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Egypt’s President Abdel-Fattah El-Sisi opened a two-day forum on business investment in Africa in Sharm El-Sheikh, telling attendees that “achieving development is one of the main challenges facing Africans, which requires developing the mechanisms of joint action.”
El-Sisi also said Egypt is looking forward to the future establishment of the African Free Trade Zone. A number of African heads of states, including Nigeria's Muhammadu Buhari and Sudan's Omar al-Bashir, are among participants at the Africa 2016: Business for Africa, Egypt and the World conference. Under the umbrella of the African Union's commission, the event was organised by the Egyptian ministries of investment, trade and industry, international cooperation and foreign affairs. In June, Egypt hosted Africa's three major regional economic committees (RECs) during a tripartite summit in Sharm El-Sheikh where a free trade agreement across all three RECs was launched. The Continental Free Trade Area brings together the 26 African countries that are members of COMESA, EAC and SADC, and gives Egypt free trade access to seven new African nations. It aims to create free trade zones for goods immediately and the hope of introducing services and intra-continent investor opportunities at a later stage. |
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