Yesterday in Cairo, Mr. Karamoko Traoré, the Foreign Minister of Burkina Faso, and his accompanying ministerial delegation met with Dr. Yousrey El Sharkawi, EABA Chairman, along with several members of the association. The meeting was also attended by Ms. Odessa Gesso, the Chargé d’Affaires of the Burkina Faso Embassy in Cairo.
El Sharkawi expressed his gratitude to Burkina Faso for the ongoing and reciprocal cooperation between the embassy, the delegation members, and the association, which has led to achievements in activity levels, commercial and economic convergence, and the promotion of both countries’ capabilities. These efforts aim to support mutual cooperation in the coming period, ensuring that the Egyptian private sector has confidence in the stability and significant opportunities available within Burkina Faso.
Mr. Karamoko Traoré emphasized that his country is looking to create a favorable economic and investment climate, welcoming the Egyptian private sector in the rebuilding and development of infrastructure. He highlighted the importance of direct communication and addressing the needs of both countries through an active private sector with consistent, direct links, a goal that will require maximum effort from both sides and can only be achieved over a long-term period involving several stages.
In turn, El Sharkawi Chairman the association’s activities across the African continent and its cooperation with various countries, sharing successful models implemented with African private sector counterparts. He affirmed that these efforts align with the vision and direction of the Egyptian state and its leadership.
El Sharkawi also outlined several important initiatives and programs:
Program 1: Trade and Opening African Markets – African governments would adopt these initiatives, pledging to support the opening of markets for Egyptian products. This support would be conditional upon completing local manufacturing and technology transfer to African countries once Egyptian products enter the markets successfully and meet agreed-upon standards. African governments would back this with special incentive packages.
Program 2: Bringing Egyptian private sector companies to work on construction and infrastructure projects in African countries in exchange for agricultural goods, livestock, and minerals, following agreed-upon standards and commercial frameworks, backed by government guarantees. This would include arrangements for shipment, customs standards, and logistical support.
At the end of the meeting, all parties agreed to hold an intensive meeting with the Burkina Faso Embassy in Cairo to prepare a working document outlining the meeting’s points and proposals. They also agreed on coordinating with the Central Bank of Burkina Faso regarding sovereign government guarantees, which will facilitate inviting financing entities to complete a large number of infrastructure projects.
