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vendredi, 03 décembre 2021 21:15

IATF 2021: Positive turnout for Egypt with $ 6 billion in deals

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At Durban International Conference Center, South Africa, from November 15 to 21, 202, the 2nd edition of the African Trade Fair in its second edition (IATF 2021) was held, saw 1,161 exhibitors present their products and services and a attracted more than 30,000 participants including 11,828 in person.


The continental trade event organized by the African Import-Export Bank (Afreximbank), the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, saw $ 42.1 billion trade and investment agreements concluded.

During an virtual exchange with media professionals on December 03, 2021, Kanayo Awani, Director of the Intra-African Trade Initiative at the African Import-Export Bank (Afrixim Bank) provided an update on the benefits driven by Egypt during IATF 2021 in the various sectors of infrastructure, medicine and construction.

“During the IATF 2021, Egypt signed agreements totaling $ 6 billion for a number of 18 agreements and is placed in 2nd place after South Africa, ahead of Nigeria ranked in 3rd place. Kanayo Awani said.
The success of this 2021 edition at all levels consolidates an initiative that is already starting to transform intra-African trade.

Today, there is no longer any need to notice that the IATF also plays a vital role in catalyzing industrialization and the production of manufactured and value-added goods and services in support of the objectives of regional economic integration within the framework of the 'AU Agenda 2063.

“South Africa, Egypt and Nigeria have the potential to sign huge, massive deals, namely the El Sewedy Group signing a billion dollar deal with Malawi. Ahmed El Sewedy, CEO of El Sewedy Electric Group, signed on the 2nd day of the Africa Expo a memorandum of understanding to build billion dollar projects in Malawi with the aim of building numerous development projects such as stations, power grids and a port, ”explained Kanayo Awani.
With the IATF there is a huge opportunity to boost intra-African trade if all key stakeholders work together in the implementation of the African Continental Free Trade Area (AfCFTA).
The intra-African trade fair a concrete start of the economic transformation in sight on the continent.

As a reminder, Côte d'Ivoire will host the 3rd edition of the IATF in 2023.

Lu 94 fois Dernière modification le vendredi, 03 décembre 2021 21:31

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