Egyptian President Abdel Fattah El-Sisi at African Intra-Trade Exhibition. Photo courtesy of Egyptian Presidency
The three-day event is being attended by 1,600 exhibitors from 75 countries.
El-Sisi highlighted Africa's untapped potential, explaining that the continent is rich in resources but is lacking in cooperation efforts between its countries.
He pointed to Africa’s “remarkable economic capabilities and abundant natural resources across all sectors,” adding that “all that's missing is coordination between us and the relevant companies.”
“Here in Africa, as you can see, the skills and capabilities are there. But there might be some obstacles that hinder us. Egypt is always keen on building, developing, and cooperating in all fields."
"And putting out any fires if we can," he added on a lighter note.
Afreximbank, in collaboration with the African Union and AfCFTA Secretariat, held the IATF 2023 at the Egypt Exhibition and Convention Center under the title “Connecting African Markets."
The IATF 2023 is part of the African agenda and coincides with the finalization of the continent’s development plan until 2063, Minister of Trade and Industry Ahmed Samir stated when he inaugurated the fair on Friday.
This is Egypt’s second time hosting the fair. The first session was held in 2018.
According to the African Development Bank Group (AFDB), $43 billion worth of trade and investment deals are expected to close at IATF 2023.