◼️ EABA and the Egyptian Commercial Representation Office in Senegal hold a conference to strengthen relations
◼️ Trade relations between Egypt, Senegal and the Gambia are on the agenda of the “African Egyptians”
◼️ Al-Sharqawi: We have a desire to be open to dealing with all African countries
◼️ 1300 housing units..implemented by Indian and Egyptian companies in Gambia
Dr. Yousrey El-Sharqawy, President of the Egyptian-African Businessmen Association, chaired a virtual meeting with the participation of the Egyptian Commercial Representation Office in Senegal, entitled “Trade Relations between Egypt, Senegal and the Gambia”, on Tuesday, September 13th.
During the meeting, the two sides reviewed developments in the three markets and investment incentives in them. The meeting was attended by a number of speakers, including Dr. Hatem Raslan, Ambassador-at-large of the State of The Gambia, Ms. Beatrice Mboj, CEO of the linguere enterprise company, and Ms. Fatou Nji, CEO of keurgui import company and Exports, Ms. Fatou Senghor Tampajang, CEO of Fatima Trading, and Ms. Navi Pari, CEO of Yata Exchange and Trading Bureau.
Dr. Yousrey El-Sharqawy, the association’s president, affirmed his welcome to cooperate with the Egyptian Commercial Representation Office in Senegal, in order to maximize the benefit of cooperation between the countries of the continent, stressing that the association is fully aware of the importance of trade, as well as the ability of African countries to achieve the desired goals, and to encourage and promote trade.
Al-Sharqawi pointed to the important role played by the Egyptian Commercial Representation Office in Senegal to develop Egyptian exports and increase the number of foreign markets, he added that the association is keen on continuous communication with various commercial centers and offices. He also stressed that the world, increasing the value of Egyptian exports has become a top priority in light of the exceptionally difficult circumstances the world is going through.
Dr. Hatem Raslan, Chairman of the Association’s International Trade Committee, welcomed all speakers, stressing that there is social and cultural interdependence between Senegal and Gambia, adding that Gambia is one of the best African countries in terms of location, and pointed out that its current government is distinguished and welcomes foreign investments.
He added that The Gambia gives great investment opportunities to serious investors on its land, and also pointed out that there is great economic diversification in The Gambia from agriculture, industry and tourism, and added that the relations between Egypt and Gambia are distinguished, due to the openness of President Abdel Fattah Al-Sisi to Africa and the brotherly relations between the countries of the continent, and concluded his speech by welcoming He added that the growth rates in The Gambia are very promising.
During the meeting, Ms. Fatou Njie clarified the most important competitive advantages of investing in The Gambia, including: the availability of attractive investment incentives, the sea and the airport in a strategic location, the Gambia’s proximity to major international markets, the Gambian market economy without restrictions, it is easy to establish business in The Gambia, and added that The Gambia A stable and peaceful country, competitive labor costs and a suitable market, and discussed opportunities for partnership between the public and private sectors, pointing to the important role of commercial offices in promoting and creating real opportunities for exports.
In the same context, she stressed that the Gambia’s commercial environment has distinctive characteristics, including that it is one of the most competitive countries in travel and tourism prices in the world, noting the importance of recognizing the private sector as an engine of growth, and that the Gambia’s environment is more suitable for starting businesses and accessing other West African economies, stressing Starting any business in The Gambia is not as complicated as doing business in other Sub-Saharan countries.
Ms. Fatou Njie explained that what prompted her to work at KeurGui Creation 10 years ago is that it is a woman-owned business that has been fully formalized. These companies processed walnuts and exported them to India and Vietnam.
It also reviewed the most prominent challenges facing the company, the most important of which was setting the price of the product by buyers, as they always set a low price; Emphasizing that at times it was facing a loss, and as a result of these reasons, it decided to enter the export market, where it exports sesame seeds, cashew nuts and straw, adding that the maximum quantities it has exported so far of cashews is 500 tons, and sesame is 85 tons.
In addition, Fatou Njie touched on the advantages of its export orientation, including that there is a great demand for cashews, husks and sesame from the international market, in addition to a high level of cashew and sesame production in The Gambia, stressing that the shipping process from Banjul port is simple as long as payment is made. All related fees.
In this context, she confirmed that the Gambia Revenue Authority launched the ASYCUDA World system, which makes processing services closer to customs customers, and makes dealing safe and easy around the clock, seven days a week anywhere, adding that it has gained a lot of experience in this sector, stressing that it It is seriously considering expanding its business to the Egyptian market.
The meeting resulted in a number of recommendations, namely:
-Inviting Egyptian investors to inaugurate packaging factories in The Gambia and fruit packaging stations.
-We need cooperation between the association and the Chamber in The Gambia and how to benefit both parties.
-Invitation to all members of the Assembly for the exhibition in Gambia November 2022.
-Exporting cashew nuts and looking forward to building more investment in this.
-With how Egyptian businesswomen are collaborating with the Gambian market and West African businesswomen.
-There are real estate and residential development and investment opportunities in The Gambia, the Indian Confinda Company (1,000 units) and the Egyptian Sam Company (300 units).
Al-Sharqawi concluded the meeting by inviting the attendees to hold other meetings; To get acquainted with the available commercial opportunities and capabilities, due to the desire of the Egyptian market to be open to dealing with all African countries, and to develop commercial relations between them, stressing the readiness of the association; To provide all aspects of support and facilities necessary in this regard.