Egypt: Enhancing African Economic Integration Key Path to Sustainable Development
Egyptian Foreign Minister Badr Abdelatty emphasized at the Alamein Forum that enhancing African economic integration is a fundamental path to sustainable development by linking markets and increasing intra-trade and investment.
Translated by Qiyas from كونا — Original source
Cairo, Oct 2 (KUNA) -- Egypt affirmed on Friday that enhancing African economic integration constitutes one of the key pathways to achieving sustainable development by linking markets, developing regional value chains, and increasing intra-African trade and investment rates. This statement came during the participation of Egyptian Foreign Minister Badr Abdelatty in a side event organized by the Egyptian Ministry of Planning, Economic Development, and International Cooperation, titled “From Resilience to Recovery: Entrepreneurship as an Entry Point to Achieve a Qualitative Leap in Economic Development,” held on the sidelines of the “Alamein Forum – Africa,” hosted by Egypt.
The Egyptian Ministry of Foreign Affairs stated in a press release that the discussions addressed ways to support economic development in Africa and enhance the role of entrepreneurship and the private sector in driving growth and recovery trajectories on the continent. The release quoted Minister Abdelatty emphasizing that the African continent possesses “immense” economic, human, and natural resources that qualify it to achieve higher rates of growth and development.
Abdelatty stressed the importance of moving from the stage of prioritization and framework formulation to the actual implementation of projects, mobilizing the necessary resources and investments to transform development plans into tangible results that directly benefit the peoples of the continent, and leveraging the African Continental Free Trade Area (AfCFTA).
He reiterated that enhancing African economic integration represents one of the fundamental pathways to achieving sustainable development by linking markets, developing regional value chains, and boosting intra-African trade and investment. He pointed to the “pivotal” role of the private sector and entrepreneurship in supporting development efforts on the continent, as they are key drivers of investment, innovation, and job creation. He underscored the importance of building more effective partnerships between governments, financial institutions, and the private sector, and creating an enabling environment that allows African entrepreneurs and companies to expand, grow, and capitalize on opportunities across various markets on the continent.
He also affirmed the close link between peace, security, and development, and the “pivotal” role of the Aswan Forum for Peace and Sustainable Development in supporting efforts to achieve stability and development.
The first edition of the “Alamein Forum – Africa” kicks off in the new city of Alamein, northern Egypt, with the participation of approximately 1,500 individuals, including African business leaders and investors. The forum, organized by Egypt in close cooperation with the African Export-Import Bank (Afreximbank), is part of a series of high-level African events hosted by Egypt from October 2 to 4 in the new city of Alamein. These events also include the summit of the founding countries of the African Union Development Agency (AUDA-NEPAD) and the eighth mid-year coordination meeting of the African Union. (End) A.F.F / M.A.A
