During the activities of the seventh edition of the Euro-African Business Forum: Deputy Minister of Planning and Economic Development participates in the session of the Organization for Economic Cooperation and Development

Share Dr. Ahmed Kamali, Deputy Minister of Planning and Economic Development, during the discussion session held by the Organization for Economic Cooperation and Development, entitled "Benefiting from value chains and investment links to enhance integration between the Middle East and Africa."



The session was held during the activities of the seventh edition of the Euro-African Business Forum, via video conference.

Kamali talked about the initiatives taken by Egypt to enhance integration with Africa, pointing out that the volume of intra-African trade amounts to 14.4%, while the percentage reached 52% in Southeast Asia, and 67% in Europe, making Africa the least integrated region.

 Kamali added that according to a new survey published by the United Nations Conference on Trade and Development (UNCTAD), the total untapped export potential of intra-African trade has reached nearly $22 billion.
Kamali explained that there are expectations from international institutions such as the International Monetary Fund that sub-Saharan Africa has the potential to become a promising economy.
 Kamali noted the need to design some policies for better integration, which would contribute to a very positive impact on growth in African countries.

Kamali explained the main reasons for weak integration in Africa, pointing to the lack of information and uncertainty, explaining that the availability of these elements enables facing significant risks and challenges.
Kamali also pointed to the high cost of transactions and transportation, explaining that the cost of shipping from a country such as Egypt to Europe is less than doing the same from Egypt to any African country except North Africa, which requires shipping goods from Egypt to any European country from it to the African country.
Kamali discussed Egypt’s launch of the structural reform program during the Covid-19 pandemic, which represents the second phase of the economic reform program.

Kamali stressed the need for African countries to pay attention to continuing social and economic reforms while moving forward to achieve integration.
 Kamali pointed to the need for information technology and digital transformation to reduce the cost of transactions, as well as the importance of data availability, the quality of information that everyone can access, and the use of the diverse resources of the continent.

Kamali talked about Egyptian initiatives to enhance intra-trade with African countries, pointing to the launch of the "Bridges" project to support maritime shipping services for African countries through the port of Ain Sukhna to the port of Mombasa in Kenya.
Kamali also referred to the Alexandria-Cape Town axis to facilitate the movement of trade with Africa, in addition to the steps taken by the Central Bank to secure export risks for Africa.