Dr. Mohamed Farid:
- We aim to directly link investment opportunities in Egypt with African markets
- The Egyptian market offers promising opportunities in tourism, construction, and mining
- Partnership with Afreximbank is a key pillar for strengthening intra-African trade
Mr. Haytham El Maayergi, Executive Vice President of Afreximbank:
- Egypt is a key strategic partner in supporting African economic integration
- Strengthening Egypt’s position as a continental re-export hub serving Africa, Asia, and Europe
In line with efforts to strengthen economic and trade relations between Egypt and regional and international financial institutions, Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held a meeting with Mr. Haytham El Maayergi, Executive Vice President of the African Export-Import Bank (Afreximbank), along with a number of bank officials, to explore prospects for joint cooperation.
The meeting addressed ways to enhance investment and trade integration between Egypt and African countries through innovative financing tools to support exporters and investors. Discussions also covered leveraging the Pan-African Payment and Settlement System (PAPSS) to facilitate transactions and reduce reliance on foreign currencies, as well as exploring cooperation opportunities in the mining, tourism, and construction sectors. In addition, the meeting discussed strengthening Egypt’s position as a continental re-export hub and supporting Egyptian trade with Africa through the Export Trading Companies Program and the framework of the Egyptian capital markets.
Dr. Farid affirmed that the Ministry is working to directly connect investment opportunities in Egypt with African markets, thereby contributing to attracting regional and international investments.
The Minister also noted that the state continues to develop its investment services and facilitate cross-border trade procedures, with a focus on digitalization and simplification of processes, in a manner that supports the business environment and enhances expansion plans across the African continent.
He further highlighted the existence of promising investment opportunities in the industrial, tourism, construction, and mining sectors.
Dr. Farid emphasized that the partnership with Afreximbank represents significant support for strengthening integration between Egypt and African countries and expanding financing and settlement tools in local currencies.
For his part, Mr. Haytham El Maayergi expressed the bank’s appreciation for its partnership with Egypt, affirming Afreximbank’s commitment to enhancing cooperation in the fields of financing and intra-African trade.
He noted that the bank views Egypt as a key strategic partner in the African economic integration framework, given its strong infrastructure, strategic geographic location, and advancements in digitalization and financial services development, all of which reinforce its role as a central hub for trade and investment across the continent.
Mr. El Maayergi also reviewed the bank’s initiative to position Egypt as a continental re-export hub, which aims to leverage Egypt’s network of special economic zones, free zones, and port logistics infrastructure to facilitate the flow of goods between Africa, Asia, and Europe under the preferential rules of origin of the African Continental Free Trade Area (AfCFTA).
He further explained that the bank has proposed launching a joint program with the Ministry and the Egyptian Export Council to accredit a group of Egyptian export trading companies, thereby contributing to the aggregation and distribution of Egyptian exports to African markets.
