Under the patronage of the Embassies of Egypt in Liberia and Liberia in Egypt, and as part of ongoing cooperation to strengthen economic and trade relations between Egypt and Liberia, the Egyptian-African Businessmen’s Association (EABA) organized a virtual conference titled “Egypt-Liberia Day 2024.” This event aims to foster investment and cultural exchange between Egypt and Liberia and to spotlight the economic cooperation opportunities available between the two countries.
In recent years, trade relations between Egypt and Liberia have shown remarkable growth, with Egypt’s total exports to Liberia reaching approximately $32.56 million in 2023. These exports were mainly focused on construction materials, including iron structures ($22.55 million), cement ($2.99 million), and fragrances and perfume products ($1.51 million).
The event was attended by a distinguished group of prominent figures, including Dr. Yousrey El Sharkawi, EABA Chairman; H.E. Ahmed Abdelazeem Farghaly, Ambassador of Arab
Republic of Egypt in Monrovia; and Minister Plenipotentiary Mr. Fadel Yacoub, African Affairs Department Director Egyptian Commercial Service (ECS) The webinar also welcomed numerous representatives from major companies and prominent economic figures, contributing to a meaningful discussion on investment and trade opportunities between Egypt and Liberia and opening new avenues for economic cooperation between the two countries.
During his address, Dr. Yousrey El Sharkawi, Chairman of the Egyptian-African Businessmen’s Association (EABA), welcomed the attendees from both countries and expressed his pleasure at seeing a distinguished group of diplomatic and economic figures from Egypt and Liberia participate in this significant event. El Sharkawey emphasized that “Egypt-Liberia Day 2024” represents a new launch to strengthen the economic partnership between the two countries, noting that cooperation between Egypt and Liberia is of particular importance given the global economic challenges and opportunities. This collaboration, he said, requires unity and cooperation to achieve shared goals.
El Sharkawi further emphasized that the private sector is the primary driver of the economy and invited companies and investors from both Egypt and Liberia to take advantage of the promising opportunities, particularly in fields such as agriculture, mining, healthcare, and education, to benefit both economies. He affirmed that this cooperation is supported by political leadership, which prioritizes enhancing economic collaboration with African countries, expressing his hope that such meetings will foster strategic partnerships capable of achieving sustainable development for both nations.
In his speech, H.E. Ahmed Abdelazeem Farghaly, Ambassador of Arab Republic of Egypt in Monrovia
, expressed his satisfaction with the existing cooperation between Egypt and Liberia, stressing the importance of enhancing economic relations between the two countries to positively impact sustainable development on both sides. Ambassador Farghali noted that this virtual conference serves as an important opportunity to explore the potential for trade and investment cooperation and to highlight promising sectors that meet Liberian market needs and benefit from Egyptian expertise and resources.
Ambassador Farghali reaffirmed the embassy’s commitment to supporting economic cooperation and providing all possible facilities for Egyptian investors and businesspeople interested in working in Liberia. He also expressed hope that this event would mark the beginning of strong and sustainable economic relations between the two countries, inviting both nations’ private sectors to leverage opportunities for integration and exchange of expertise in support of their developmental goals.
Minister Plenipotentiary Mr. Fadel Yacoub, African Affairs Department DirectorEgyptian Commercial Service (ECS), emphasized during his speech at “Egypt-Liberia Day 2024” the importance of strengthening trade cooperation between Egypt and Liberia within the framework of the African Continental Free Trade Area. Yacoub stated that this meeting represents a golden opportunity to explore promising investment prospects in key sectors such as agriculture, energy, and mining, affirming the Egyptian Commercial Service’s commitment to providing all support and facilities for Egyptian investors aiming to enter the Liberian market. He also highlighted the organization’s efforts to facilitate public and private sector cooperation between the two countries to deepen trade exchange and achieve sustainable development.
The webinar featured vibrant discussions between public and private sector representatives from both Egypt and Liberia, focusing on exploring avenues for collaboration in investment and trade. Speakers presented insights into the significant potential available in each country, highlighting promising sectors for future partnerships, such as technology, energy, healthcare, and construction. They also addressed the challenges facing local markets and ways to overcome them to strengthen trade relations. The participants discussed strategies for expanding trade exchange within the African Continental Free Trade Area, emphasizing the importance of cooperation to create a conducive environment for companies and investors from both countries to achieve sustainable development.
“Egypt-Liberia Day 2024” marks a positive step toward enhancing bilateral relations between Egypt and Liberia, aligning with ongoing efforts to deepen cooperation between business leaders from both countries. This event represents the beginning of more economic activities that will contribute to strengthening investment and trade exchange between Egypt and Liberia and achieving mutual interests that support sustainable development in Africa.