Next Sunday, Cairo will host the largest economic and investment forum between Egypt and Mauritius. Jointly organized by the Egyptian African Businessmen Association headed by Dr. Yousrey El Sharkawi. and the Mauritian Economic Council, chaired by Hemirg Raminal, In coordination with Goberdhan, Ambassador of Mauritius to Cairo, and the Egyptian Embassy in Mauritius, In the presence of the representative of the Egyptian Ministry of Foreign Affairs – Deputy Assistant Minister of Foreign Affairs for African Affairs, Director of the Africa Department in the Commercial Representation Sector, And a number of ambassadors of African countries in Egypt.
The forum is held within the framework of the role played by the Egyptian African Businessmen Association. To support economic cooperation between the Egyptian financial and business community with its counterparts in brotherly African countries.
Dr. Yousrey El-Sharkawi, chairman of the Egyptian African Businessmen Association, said, The forum will witness the participation of more than 25 companies from Mauritius in 6 different economic sectors. And more than 125 Egyptian businessmen are members of the Egyptian African Businessmen Association, And from within the associations and unions of the Egyptian financial and business community.
Dr. Yousrey El-Sharkawi revealed that this visit is the first and largest diversified trade mission from Mauritius to Cairo. Pointing out that the importance of the forum stems from the fact that the State of Mauritius is an important focal point in all sectors of trade and investment for a region that includes Mauritius, Madagascar and the Seychelles.
The head of the Egyptian African Businessmen Association stated that the association prepared an intensive program for the Mauritian economic delegation. The economic forum will be held on Sunday morning, November 27, in Cairo. During which it is scheduled to review the investment and commercial opportunities in Mauritius, This will be followed by bilateral meetings between the financial and business community in the two countries.
Dr. Yousry E-Sharkawi indicated that the General Authority for Investment and Free Zones is hosting the activities of the second day, which includes introducing the Mauritian side to the Investors’ Services Center in Egypt and the various fields of investment.
He said, “On the 29th, round tables will be held at the residence of the Mauritian mission hotel in Cairo with the Export Council for Textile Industries, the Export Council for Agricultural Crops, the Export Council for Construction and Building, and the Export Council for Pharmaceutical Industries.
On the 30th, the Mauritian Economic Council team will visit the Ministry of Commerce and Industry to hold a meeting with the head of the commercial representation sector, Minister Plenipotentiary Yahya Al-Wathiq Billah. After that, the delegation will visit the Ministry of Foreign Affairs to meet the Assistant Minister of Foreign Affairs for African Affairs, Ambassador Dr. Muhammad Al-Badri.
El-Sharkawi indicated that the forum aims to find out the visions and ideas of economists in the two countries. On the successive economic crises facing the African economy, And how to raise the rates of trade exchange between Egypt and Mauritius.
He stated that the association’s establishment of this huge forum is an affirmation of the depth of economic relations between Egypt and Mauritius. Pointing out that the relations between the two countries have witnessed unprecedented developments in recent years.
El-Sharkawi said, “The forum will discuss ways to achieve higher levels of economic partnership between Egypt and Mauritius. By exploring areas of cooperation between the two countries, And agreeing on new frameworks to enhance cooperation during the next stage, facilitate the access of investors and entrepreneurs to the markets of the two countries, and take advantage of the promising opportunities that they provide, and increase trade exchanges and investment flows between the two countries, by focusing on the infrastructure sector and clean energy.
Dr. Yousrey El-Sharkawi pointed out that Mauritius is one of the important countries in the “COMESA” market, as the Egyptian state places among its priorities the promotion of trade exchange with African countries, especially the countries of the Common Market for Eastern and Southern Africa (COMESA).
ElSharkawi pointed out that the data of the Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and the COMESA countries by 30.2%, to record 3.1 billion dollars during the first 9 months of 2021, compared to 2.4 billion dollars during the same period in 2020.
He said, “Egypt’s membership in COMESA gives it a broader scope of movement in the field of opening markets. And get new comparative advantages.
Chairman of the Development Agency in Zambia praised the Egyptian-African Businessmen Association; to host the Zambian Conference, Pointing out that it provides a platform for in-depth thinking and fruitful discussion on strengthening economic cooperation between the two countries.
the chairman of the Mauritian Economic Council, Hemrig Raminal, praised the efforts of the Egyptian African Businessmen Association. In holding such major economic forums, Noting that the forum stresses the importance of the role of civil society and the African private sector in bringing about economic development for African countries, Stressing that it is scheduled to discuss ways of directing the private sector towards benefiting from the abundant resources of the African continent, In order to achieve high growth rates.
Raminal stressed the growth witnessed in the course of bilateral relations between the two countries. Expressing his deep appreciation to the President and members of the Association, Noting that there are broad prospects for developing relations, And push the frameworks of joint cooperation between them in various fields.
The head of the Mauritian Economic Council pointed out to the increase in the volume of trade exchange between Egypt and Mauritius, to record more than 33 million dollars. Pointing out that the past period witnessed great momentum regarding the visits of Mauritian delegations to Egypt.
He said, “It is planned to send other economic missions that include a number of investors to Egypt, to get acquainted closely with the investment opportunities available in Egypt. He also welcomed the visit of a delegation of Egyptian businessmen to Mauritius as well.
He stressed the existence of a real desire in Mauritius to attract more Egyptian investments in a number of priority projects for his country, foremost of which is the establishment of an advanced fishing fleet to take advantage of the enormous marine resources available to Mauritius. In addition to fish farming and fish processing projects.
“There is also an opportunity for Egyptian investors to invest in Mauritius in the sectors of infrastructure, renewable energy, the blue economy, ecotourism, and agricultural industrialization,” he said. In addition to the possibility of importing building materials from Egypt and benefiting from its membership in the COMESA assembly, Referring to the many advantages that Mauritius enjoys as a stable financial center in the Indian Ocean region, Which comes in an advanced position in Africa in the World Bank classification for the ease of doing business, In addition to its political stability and the incentive tax privileges it offers.
The head of the Mauritian Economic Council, Hemiurge Raminal, pointed out his country’s keenness to encourage businessmen and investors in Mauritius to increase cooperation with the Egyptian financial and business community. To discuss opportunities for joint cooperation with Egyptian companies, He praised the role played by the Egyptian African Businessmen Association in this regard.