Dr. Yousrey Elsharkawi chairman of the Egyptian-African Businessmen Association, He stressed the importance of strengthening economic cooperation with the State of Cameroon, As well as between the countries of the African continent; To face the economic challenges experienced by the whole world, Referring to the importance of working on a consensus of visions among the countries of the brown continent; To achieve its goals in economic development.
This came during Cameroon Business Day 2022. Organized by the Egyptian-African Businessmen’s Association, With the participation of its representative office in Cameroon, which was held on Tuesday, Sept. 27; With the aim of boosting trade between Egypt and Cameroon and opening new horizons for economic cooperation.
A large number of Cameroonian businessmen participated in the meeting. Among them: Sir Ali Pasha, Minister Plenipotentiary of Trade at the Ministry of Commerce and Industry, Mr. Nzuitou Pachlin, Deputy Director of Promotion and Cooperation of the Chamber of Commerce, Industry and Mines of Cameroon, and Mr. Ekodu Embolo Jules Christian, Head of the Department of Economic Studies at the Chamber of Industry and Commerce of Cameroon, Mr. Ndago Sembles, CEO of SellNow Marketing Co-Founder of CIIEDDA.
Also present were: Ms. Ngoe Ngecta Favor, Founder of FYWEDO and Fashion Designer at FFAFH, Mr. Gilbert Ehme, Innovative investment and financing expert and business development consultant, Ms. Michelle Clarice, agricultural and pastoral businesswoman, Ms. Nicolene Noinushi Thomasang, Head of the Integrated Agricultural Training Center, and Ms. Sarah Derval-Efose Levanda, President of Hope of Africa – HOFA – Alfred & Sarah Company Limited.
This meeting comes as part of a series of meetings held by the association with the countries of the continent. Within the framework of consolidating Egypt’s relations with the rest of the continent, increase the volume of trade exchange, Definition of the continent available Egyptian trade and investment opportunities.
The meeting began with the speech of Dr. Yousrey El-Sharkawi, Chairman of the Board of Directors of the Association, where he welcomed all attendees, El-Sharkawi indicated that the volume of trade exchange between Egypt and Cameroon during the year 2020 amounted to about 43 million dollars. With a growth rate of 6% compared to 2019, He stressed that there are promising opportunities for Egyptian exports to enter the Cameroonian market and vice versa.
And the word passed to Mr. Ali Pasha, During which he thanked Yousrey El Sharkawi for the great efforts he made in the series of events organized by the Egyptian African Businessmen Association. Which aims to activate and support trade ties between Egypt and African countries.
He stressed that Egypt is one of the most important countries that we seek to be proud of the strong political, economic and tourism relations between us. We care to support and strengthen relations with it. Stressing that the level of trade exchange between Egypt and Cameroon is low compared to the levels of trade with other countries. He stressed his country’s desire to enhance and raise the level of investment through these events and visits.
Mr. Ali Pasha confirmed that Egypt is open to Cameroon. Confirming that it exports many commodities to Cameroon, such as: Food Industry, building materials, chemical industries, engineering industries, And the pharmaceutical industry and other industries that it exports to all countries of the world.
He added that Egypt is distinguished by being an agricultural and industrial country. It has an industrial revolution and a major economic boom in recent years. He stressed that Cameroon has a number of commodities and products that can be exported to Egypt. including wood, rubber, coffee, cocoa, cotton, vegetables, and fruit.
Stressing their desire to increase investments between the two sides, He explained that Cameroon has a tendency to expand in Africa and invest in the African market. This is evidenced by a number of successful models in establishing investment projects in some African countries.
He noted that enhancing trade and investment activity between the two sides requires efforts through joint coordination between the Chamber of Commerce of Cameroon and the Egyptian-African Businessmen Association. To cooperate and exploit opportunities with the aim of supporting entrepreneurs and startups.
Mrs. Najwa emphasized that the International Trade Center (ITC) shows that only 15% of exporting companies are led by businesswomen. With 40% of SMEs worldwide being owned by African women, She added that the sub-Saharan African region “Rwanda, South Africa, Kenya, Nigeria, Cameroon has the largest number of women in international trade.
She stressed the vital role of women entrepreneurs in economic development. Stressing that there are a number of barriers that prevent them from trading at the international level, Such as:
- Women entrepreneurs, especially young women, often face extortion, especially in wider countries.
- building abilities, These women suffer because they lack the skills that would enable them to stand out in the international market.
- Women entrepreneurs who produce exportable goods and services often have less access to the raw materials and inputs that would increase their productivity to allow them to compete or be visible in the international market.
- High tariffs.
- Lack of access to reliable logistics companies.
- Inability to access financing.
- Social and cultural norms that are biased against women.
She added that there are a number of proposals that can overcome these barriers, including: Learn about the role women play in international trade, and making sure that policy makers take into account, As well as designing programs that support improved access to information that supports women in international trade, In addition to establishing support networks that enhance women’s vision in business matters.
She explained that the Shestrade network of the International Trade Center is one of the support networks for women in international trade. Some women entrepreneurship networks mentioned such as: FYWEDO (F&F Young Women Entrepreneurship Development Organization)، Finally, she emphasized that the emergence of women in international trade has a crucial role in achieving the 2030 Agenda for Sustainable Development. Which recognizes international trade as an engine of inclusive economic growth and poverty reduction.
At the end of the meeting, El-Sharkawi pointed out that the Cameroonian Business Day, It comes within the framework of efforts to achieve integration and economic integration in Africa. And reversing the direction of the political leadership to strengthen Egypt’s role in the African continent, Pointing out that African countries aspire to achieve progress in all fields by strengthening cooperation with Egypt.