Cairo hosts Intra-African Trade Fair Roadshow

Ahram Online , Tuesday 11 Jul 2023

The African Export-Import Bank (Afreximbank) and the Egyptian Ministry of Trade and Industry held a business roadshow to encourage trade between Egypt and Africa, as per a press release on Tuesday.

Intra-African Trade Fair Roadshow.
Intra-African Trade Fair Roadshow.

 

In partnership with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, the event was held last week to prepare for the Intra-African Trade Fair (IATF 2023) in Cairo from 9-15 November 2023, where $32 billion deals are anticipated to be signed.

Egypt's IATF 2023 roadshow assembled industry leaders, top government officials, diplomats, and executives from Afreximbank, AUC, and AfCFTA Secretariat to discuss how IATF can boost trade and investment opportunities under AfCFTA between Egypt and other African nations.

 “IATF2023 is expected to be bigger and better than the previous two editions and the event is expected to attract more than 1,600 exhibitors; over 35,000 visitors, buyers and conference delegates from all 55 African countries, and the rest of the world; with more than $43 billion in trade and investment deals," said Olusegun Obasanjo, Chairman of IATF 2023 Advisory Council and Former President of the Federal Republic of Nigeria.

Benedict Oramah, President and Chairman of Afreximbank, stated: “At the first trade fair in 2018, which was held in Cairo, Egypt signed the largest share of deals out of the $32 billion worth of trade and investment deals closed at the Trade Fair."

"Since its inception, Afreximbank has provided financing support to Egypt in excess of $32 billion and $28 billion coming in the past five years alone," said Kanayo Awani, Executive Vice President for Intra-African Trade Bank at Afreximbank.

During Q1 2023, trade between Egypt and African nations totalled $2.117 billion.

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