The activities of the Egyptian-Nigerian Trade and Investment Conference will be launched in the Administrative Capital in the Conference Hall. From the 10th to the 12th of October, Organized by the Egyptian-African Businessmen Association (EABA), In cooperation with the Nigerian Association for Culture and Community Economy in Abuja, Nigeria, Under the patronage and presence of the Ministers of Trade and Industry in the two countries, and the Egyptian Minister of Finance, Participation and attendance of Nigerian Federal Export and Investment Development Agencies, And the General Authority for the Economic Zone of the Suez Canal – the Egyptian commercial representation sector, the International Medical Center and many leaders, companies, governmental and semi-governmental institutions, Egyptian and Nigerian banks, the African Export-Import Bank, and in the presence of more than 150 members of the most prominent members of the Nigerian business community in more than one economic sector and interviewed by more than 250 From the elite of the Egyptian financial and business community, with the participation of the two legislative groups of the Egyptian House of Representatives and the Senate, A number of deputies attended, led by Dr. Sherif El-Gabaly, Chairman of the Africa Committee in the House of Representatives, Chairman of the African Affairs Committee of the Federation of Industries, and Head of the Africa Committee of the Egyptian Businessmen Association.
Dr. Yousrey El-Sharkawi, chairman of the Egyptian-African Businessmen Association, stressed that the conference seeks to achieve and promote economic integration between Egypt and Nigeria, in accordance with the orientations of the Egyptian political leadership and the vision of President Abdel Fattah El-Sisi related to the joint Egyptian-African work and how the private sector and business organizations can play a vital role in this file. Important, while discussing how to optimally utilize the resources of the two countries and the assets of the two countries that enjoy all the elements of production, which together enabled the two countries to be at the forefront of the continent’s GDP and also among the most important countries attracting foreign investment in the continent and active in the African and international economic equation in light of the challenges the world is facing now The conference also aims at cooperation between the two countries by presenting many experiences, expertise, results and planning for the implementation of medium and giant joint projects in various economic fields, such as the construction and building sectors, agriculture, energy, health, education, digital transformation and infrastructure, stressing that the conference The private sector of the two countries encourages investment and moves according to paved, studied and promising roads.
El-Sharkawi added that there is a dedicated day, which is the second day for holding bilateral meetings between more than 400 businessmen from the two countries face to face, in order to bring about a positive shift in acquaintance and commercial networking to support the activation of free intra-trade between the countries of the African continent. This will be covered by discussion sessions on the first day, Numerous opportunities that highlight the possible trade and investment partnership in various fields. It also discusses enhancing cooperation mechanisms and benefiting from the expertise of businessmen in the fields of industry and various services, including advisory services. In this regard, El-Sharkawy stressed that the Egyptian-African Businessmen Association puts all its capabilities through its distinguished members to participate in the development projects taking place in the Republic of Nigeria and how they can be linked to the renaissance taking place in Egypt and how an integration can be created that serves the file of food security in light of the challenges.
Referring to the desire of both sides to train and qualify human cadres in all economic, administrative and legislative fields, and that; To achieve the plans of the two countries in the sustainable development system in accordance with the Africa Agenda 2063,
El-Sharkawi stressed that what is happening globally highlighted one importance and one title, which is African cooperation, the closest reason to reach a promising future and security for the peoples of the continent who desire stability and be able to overcome the problems of the continent. Demanding the need to hold more conferences and field visits with African countries; To benefit from the resources of the African continent and make good use of them in all fields.
It is worth noting that the conference includes many axes that confirm the creation of a new type of economic rapprochement at the level of the private sector in all its categories and classes, and between the power of Egypt and Nigeria to serve the two countries. Enhancing African cooperation between North Africa, represented by Egypt, and West and Central Africa, represented by Nigeria. And not only that, but we will broadcast the proceedings and sessions of the conference through Egyptian and Nigerian platforms, pages and websites directly to achieve benefit and cooperation for the African community in general and a modern definition of trade and investment opportunities between the two countries, And reaching a new and applicable vision while standing on any obstacles with the aim of presenting and raising it before the governments of the two countries, Working sincerely to present and demonstrate the ability of the private sector, civil society and business community in the two countries to participate effectively in African development, Amid the presence, rapprochement and bilateral meetings between this number and momentum of businessmen and women; Which will have a great impact on activating the free trade agreement between African countries.
It is worth noting that the conference will be attended by the most prominent pioneers of the private sector in agriculture, industry and trade, Africans from Egypt and Nigeria, with a percentage exceeding 90%, and a number of African ambassadors, commercial attachés, representatives of communities, and businessmen from some countries of the continent. As well as representatives of African, Egyptian and Nigerian entities and giant commercial organizations in the African industry, high-profile African media, And the Egyptian media.
El-Sharkawi indicated that the preparation for this conference lasted 8 months, during which many visits were made to Nigeria, a close acquaintance with the commercial and investment situation in Nigeria, and direct interviews with the keys to major markets. Which will make the conference a good and promising path in discovering the available African investment opportunities. in Nigeria specifically, and learn more about African trade challenges and future sustainable sectors, and build effective partnerships with the African development community, and expanding the African business network of those interested in work, networking with leading African businessmen and policy makers, and promotion, detection and entry among African markets.
ElSharkawi expressed his hope to develop trade between Egypt and African countries in order to reach African-African integration. facilitating the movement of trade between them, Stressing that this is among the topics to be discussed in the conference. He added that Egypt has recently confirmed its interest in Africa. This interest emerged through mutual visits between the two parties. Pointing out that the association seeks to strengthen the Egyptian presence in the continent.
He added that there is future coordination coming for two major activities of major missions for both Zambia and Mauritius, and preparations are underway for them at a distinguished level and with the same goals and axes.
He added that trade relations between Egypt and Nigeria are flourishing greatly. There was an increase in most items of Nigerian exports during the past year, reaching $200 million. It is expected to reach 350 or approximately $500 million by 2024, He stressed that there is a great demand for Egyptian products from the Nigerian market. especially furniture, plastic products, and many other products, There are currently a number of major Egyptian companies such as: EgyptAir, In the air transport sector with three flights per day and the Arab Contractors, Orascom Construction, Egyro, and mantrack.
There are many companies preparing to enter the markets, and there are more than 20 major African investors of Nigerian origin who will be at the top of the attendance list. Their interest came from what was reflected in the meetings, conferences, seminars and visits of the association and its detailed explanation of the renaissance and stability that took place in Egypt, making it the focus of attention of the serious investor in direct investment.
ElSharkawi confirmed that the last day, On October 12, trips will be organized for the delegation to visit the economic zone of the Suez Canal in Ain Sukhna, some industrial areas, and the International Medical Center. With the aim of introducing investment and industrial opportunities and partnerships and serving the medical tourism system.
It is worth noting that nearly 95% of Nigeria’s exports to Egypt are petroleum and gas products. The rest is agricultural commodities. It is reported that imports are petroleum products, cars, vehicles, electrical and electronic appliances, and medical machinery and equipment.
ElSharkawi pointed out the importance of the Nigerian market. Emphasizing that it is a fertile market for joint cooperation, He added that this is the best time to strengthen Egyptian-Nigerian relations. Especially in light of the support given by the presidents of the two countries; To increase cooperation between the countries of the continent.
It is worth noting that nearly 95% of Nigeria’s exports to Egypt are petroleum and gas products. The rest is agricultural commodities. It is reported that imports are petroleum products, cars, vehicles, electrical and electronic appliances, and medical machinery and equipment.
ElSharkawi pointed out the importance of the Nigerian market. Emphasizing that it is a fertile market for joint cooperation, He added that this is the best time to strengthen Egyptian-Nigerian relations. Especially in light of the support given by the presidents of the two countries; To increase cooperation between the countries of the continent.