Within the framework of the efforts exerted by the Egyptian-African Businessmen Association to enhance cooperation between Egypt and African countries, Yesterday, the activities of the “Investment and Trade between Egypt and Nigeria” forum began. Which will be held on 10, 11 and 12 October in the New Administrative Capital. With the participation of more than 400 Egyptian and Nigerian businessmen, In the presence of a number of Nigerian ministers and senior officials, and under the auspices of the Ministries of Finance and Trade and Industry in Egypt.
Maryam Katago, Nigerian Minister of State for Industry and Trade, stressed the importance of developing economic and trade relations between Egypt and Nigeria. Expressing her thanks and appreciation to Egypt and the Egyptian people for the good reception that the Nigerian delegation has received since its arrival in Cairo.
Katago said in her speech at the opening session of the Investment and Trade Forum between Egypt and Nigeria, “The main objective of this forum is to deepen trade and investment between Egypt and Nigeria, He considered that the forum was a new pillar in the relations between Cairo and Abuja.
The Nigerian Minister thanked the Egyptian-African Businessmen Association and the Nigerian-Egyptian Society for Culture and Social Economy for organizing this event.
The Nigerian Minister of State for Industry and Trade stressed that there are many economic similarities between Egypt and Nigeria. Noting that the two countries here have the largest market in Africa, As well as the largest in terms of population, In addition to its distinction, it has an abundance of natural resources and a large industrial base.
“This makes the conference a new platform for great economic interaction between Egypt and Nigeria,” she said. Minister Maryam Katago stressed the importance of African economies to overcome the repercussions of the Corona virus, mitigate its effects, and achieve economic recovery.
In this regard, she drew attention to the importance of commercial exchange between Egypt and Nigeria. The Nigerian Minister of State for Industry and Trade noted that Nigeria possesses many great economic potentials and natural resources, “Nigeria is one of the biggest attractors of investments in Africa,” she said.
She explained that Nigeria contributes about 20% of Africa’s GDP. And it is one of the largest markets in the world.
Minister Maryam Katago stressed the importance of increasing economic cooperation between Egypt and Nigeria, “Egypt is for Nigeria the gateway to North Africa,” she said.
She also stressed the importance of supporting relations between Egypt, Nigeria and all African countries. He added, “Nigeria is trying to deepen its cooperation with Egypt. We consider ourselves the heart of Africa.
She indicated that Nigeria owns 2 million hectares of arable land. Only 40% of it is used. Calling Egyptian businessmen to invest in agriculture in Nigeria.
Khalifa Abdullah, Governor of Kaduna State in northern Nigeria, stressed the importance of developing investment flows between Egypt and Nigeria to new numbers. Pointing out the importance of the presence of Egyptian investments in Nigeria and the presence of Nigerian investments in Egypt.
The Governor of Nigeria’s Kaduna State said, “Egypt is for us the second market in the world,” noting that Nigeria is the largest producer of corn and soybeans. It has the most fertile lands in Africa. “We encourage Egyptian businessmen to come to Nigeria and invest in Nigeria’s agriculture,” he said.
He added, “With increasing cooperation in the field of agriculture, we can achieve self-sufficiency in Africa in agricultural products instead of relying on Russia and Ukraine.” He added, “Nigeria and most African countries represent the most stable regions in the world, Certainly, the future of the world is in Africa and Asia.
The Kaduna Governor stressed the importance of developing economic relations between Egypt, Nigeria and South Africa. Considering that they have a responsibility towards the African continent.
Mahmoud Ahmadou, President of the Nigerian-Egyptian Association for Culture and Social Economy, stressed the importance of holding the Egyptian-Nigerian Investment Forum. Which aims to increase economic cooperation between Egypt and Nigeria.
Ahmadu mentioned in his speech, To the opening of the electronic services center for the Nigerian community in Egypt, Which would increase trade and economic cooperation between the two countries, Facilitating cooperation between Egyptian and Nigerian businessmen.
Mahmoud Ahmadou pointed to the signing of a memorandum of understanding between the Egyptian-African Businessmen Association and the Nigerian-Egyptian Association for Culture and Social Economy. With the aim of achieving a boost between business institutions between the two countries and achieving fruitful partnerships between them.
Yousrey El-Sharkawi, chairman of the Egyptian-African Businessmen’s Association, stressed the importance of organizing the forum, which aims to increase economic cooperation between Egypt and Nigeria. He also stressed that the main objective is to strengthen the Egyptian-African relations in all fields.
He said, “Our main goal is African-African relations, not Egyptian-African relations.” Elsharawi pointed out that the Trade and Investment Forum with Egypt will be held annually alternately between Cairo and Abuja. Announcing the holding of the second edition of the forum in Abuja October 10, 2023.
Dr. Yousrey Elsharkawi stressed that the challenges the world is witnessing in the current period forced the African continent to put itself in a new position.
chairman of the African Egyptian Businessmen’s Association called on the African media to play a role in updating the mental image of the continent . He also called on African governments to overcome all difficulties encountered in increasing trade movement between various African countries.
Ambassador Nyora Ibarimi, Ambassador of the Republic of Nigeria to Egypt, stressed the depth and strength of the bilateral relations between Egypt and Nigeria, which span more than 62 years since Nigeria’s independence. praising the pioneering role played by Egypt in serving the issues of the African continent, “Egypt and Nigeria have great cooperation and play a major strategic role in Africa,” said Ambassador Nyora Ibarimi.
He pointed out that the two countries are considered major economic powers in the continent. They are the largest and second largest economy in Africa. “Egypt and Nigeria are the largest economies of the continent,” he said. They have great opportunities to increase economic cooperation between them. The Nigerian ambassador in Cairo called on Egyptian businessmen to take advantage of the great investment opportunities offered by the country’s government to invest in Nigeria.
He said, “Part of the diplomatic interest in Egypt is to establish a strategic and economic partnership relationship between the two countries.
Sherif El-Gabaly, head of the African Affairs Committee in the House of Representatives, stressed the importance of Egyptian-Nigerian relations. Pointing to the need to develop these relations to wider areas, El-Gabaly said, “The political leadership in Egypt has great interest in developing economic and trade relations with the countries of the African continent.”
El-Gabali noted the importance of the entry into force of the African Free Trade Agreement. Which would increase the volume of trade exchange between African countries, El-Gabaly thanked the Egyptian-African Businessmen Association for organizing this conference, which will give businessmen in both countries to explore opportunities for cooperation between them.
El-Gabaly touched on the existence of real opportunities for cooperation between Egypt and Nigeria in the agricultural sector. “We have many opportunities for cooperation,” he said. We would like to see action on the ground.
The branch of OES Al-Nehairia Company was launched in partnership with Ahmed Al-Esawy Emara Group of Companies, which is one of the members of the association. It is one of the major companies in international diversified investments in Egypt, the Gulf and Africa.
The delegation will visit Madinaty residential complexes. As well as the projects of Redcon Contracting Company, world medical center, and the economic zone of the Suez Canal, They meet with senior Egyptian consultants, Who supervised the designs of the new administrative capital.