The Egyptian-Rwandan Investment and Trade Day Conference was held yesterday in Cairo, jointly organized by the Egyptian-African Businessmen Association, headed by Dr. Yousrey ElSharkawi, the Rwanda Development Board (RDB), and the Rwanda Embassy, in a gesture to increase economic and trade cooperation between Egypt and Rwanda.
Mr. Ali Basha, Minister of Commerce Plenipotentiary – Head of the Africa Department at the Ministry of Trade and Industry, participated in the conference, who stressed that his country realizes that the future of Africa lies in economic and investment cooperation between the countries of the continent, adding that for this reason, such conferences held by the Egyptian Businessmen Association are considered Africans need to share knowledge and experience of our economies.
Also participating in the conference was Ambassador Alfred Kalisa, Ambassador of Rwanda to Egypt, in addition to a government delegation from Rwanda, a large number of members of the Egyptian-African Businessmen Association, as well as senior businessmen and investors from Rwanda.
The day included presentations on business and investment opportunities in Egypt and Rwanda, meetings between private sector businessmen from Egypt and Rwanda, discussions between company owners, and B2B meetings.
Dr. Yousrey ElSharkawi, chairman of the Egyptian-African Businessmen Association, opened the conference, welcoming the attendees, and noting during his speech that Egypt began to rebuild its African relations eight years ago, stressing that the association is keen in turn to strengthen Egyptian-African relations, through cooperation and partnership with the countries of the continent. We base this on the right of the African continent to exploit its capabilities in a manner commensurate with the capabilities it possesses that need development for the benefit of its people.
ElSharkawi stressed that the association aims to be an important bridge linking African countries, and is keen to confirm its support for African causes, and to push for cooperation to employ the various capabilities of African countries, in a manner commensurate with their capabilities, pointing out that the leaderships of the two countries announced on more than one occasion the agreement on the necessity Supporting and strengthening bilateral relations in a strong way, stressing that the association is also playing its role in promoting and developing economic and investment relations between all countries of the continent.
ElSharkawi noted that there is a common desire on the part of the two countries to expand the areas of cooperation, develop trade relations, and benefit from the experiences of Egyptian and Rwandan businessmen, adding that Rwanda is considered one of the most successful sub-Saharan African countries, as it has achieved a steady economic growth rate ranging between 6% – 9% annually since 1995.
ElSharkawi stressed that Rwanda has an important experience in development, expressing his appreciation for the Rwanda experience, which started from the stage of challenges and difficulties, to achieve development and development, stressing that it is an inspiring African success story, whose fruits appeared on the ground, during the last period.
ElSharkawi pointed out that despite the many achievements that have been made in the Egyptian-Rwandan relations, there are still many opportunities to improve and advance them, stressing the need to improve trade exchange, especially cooperation in the fields of tea, coffee and food products.
He added that the volume of trade exchange between Egypt and Rwanda is still considered very limited, but it has been gradually increasing in recent years. According to official statistics for the year 2020, the volume of trade exchange between the two countries amounted to about $14 million, stressing that statistics indicate that Egypt’s exports to Rwanda are represented in Food products, beverages, fertilizers, some chemical products, electrical and household appliances, and building materials, while Egypt’s imports from Rwanda consist of mobile phones and some agricultural products such as tea, coffee, avocados, and pineapples.
With regard to investments between the two countries, ElSharkawi stressed that the numbers are still not measurable due to their weakness, pointing out his aspiration for the two sides to come out of the conference with very distinct outputs, hoping that Egyptian-Rwandan partnerships will take place on the land of Egypt and launch into the Gulf and European markets, stressing that this is the best time to start alliances. successful economic.
His Excellency Alfred Kalisa, Ambassador of Rwanda to Egypt, welcomed the attendees during his speech, and thanked the President of the Association for the good organization of the conference activities, and indicated that the State of Rwanda is keen to cooperate with the Egyptian-African Businessmen Association, adding that it is a platform that brings together a distinguished elite of Those in charge of developing the African economy.
Stressing that the association has proven during its journey that it is a successful model for enhancing cooperation between the countries of the continent, and a bridge for the exchange of experiences and practices in the economy and trade, explaining that the expansion of economic cooperation has become a very important matter between the two countries, stressing that the two countries should identify new areas of cooperation, to serve as a starting point. New projects to maximize benefit from various fields, stressing that this will create many opportunities, especially for business owners and youth.
During his speech, Mr. Ali Pasha, Minister of Commerce Plenipotentiary – Head of the Africa Department at the Ministry of Trade and Industry, praised the pivotal role played by the Association in terms of the African economy, stressing that his country appreciates the value of economic and investment cooperation between the countries of the continent, praising the role of the conferences held by the Businessmen Association. African Egyptians in this regard.
He added that Rwanda is keen on the association’s participation in expressing the aspirations of the African countries in the economic field, hoping that the conference will produce tangible executive results that will achieve an important shift in the African economy. He stressed Rwanda’s interest in inviting Egyptian investors to invest in Rwanda. A delegation from the Society is visiting Rwanda to discuss the matters discussed during the conference.
An Egyptian expert confirmed that Egypt is the third Arab country in consumption of tea and coffee, and per capita consumption reaches approximately 273 billion liters of tea and coffee annually, stressing that the volume of Egypt’s imports in the first five months of coffee in 2022 reached nearly $100 million. And the volume of imports during the same period in 2021 was 74 million dollars. As for tea, the volume of Egypt’s imports from it during that period of 2022 was 127 million dollars.
He explained the importance of examining the experiences of countries that preceded Egypt in the field of tea and coffee cultivation, such as Rwanda, Kenya and Malawi, stressing the great role of the Egyptian-African Businessmen Association in providing a platform for trade exchange and creating unique opportunities for reconciliation between Egyptian and African companies.
During the conference, bilateral meetings were held between Egyptian and Rwandan businessmen. To exchange visions and points of view, with the aim of activating relations in the economic and investment field, and to discuss mechanisms for implementing joint projects and programs between the two countries; To benefit from the experiences of businessmen in the two countries, and to establish a network of communication between the investors of Egypt and Rwanda.
