African Export and Import Bank (Afreximbank) has held a conference to announce the launch of the first phase of preparations for the first-ever Intra-African Trade Fair, to be held from 11 to 17 December in Egypt, in cooperation with the African Union and Export Development Authority.
The bank held a panel discussion entitled "Towards a Strategy for Deepening Trade Between Egypt and Africa."
African countries have different capabilities and resources; Egypt, South Africa and Nigeria are among the countries with great potential to grow and lead the transformation of the African continent, said former Nigerian president Osijen Abago.
"The volume of intra-African trade does not exceed $150 billion, which is a very low figure, and we are working to increase this figure by up to 40 percent through several trade initiatives and facilities launched by the African Bank for Export and Import in support of trade between countries," said Benedict Oramah, the president of Afreximbank.
The lack of information on markets and companies is one of the main obstacles to intra-trade, he said.
The trade fair will provide a platform for exchange of information on markets, dialogue, and exchanges of information.