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Day Five of IATF2023 Features Extensive Talks on Trade and Investment across Africa

On the fifth day of the third Intra-African Trade Fair 2023 (IATF2023) in Cairo, attendees continued to hear wide-ranging discussions and comments on trade and investment issues. Egypt and Barbados celebrated Country Days by hosting investment forums.

During the Egypt investment forum, speakers highlighted opportunities for greater trade between Egypt and other parts of Africa. Dr. Sherif El Gabaly, Head of the African Affairs Committee, Egyptian Parliament, underscored lessons that Egypt could share to strengthen agricultural self-sufficiency. Other Egyptian business leaders shared insights from their work in various sectors such as healthcare, automotive, construction, and e-commerce.

Sherine Helmy, CEO of Pharco Pharmaceuticals, shared insights on significantly reducing the cost of hepatitis treatment in Egypt to $60 per person. Abdelatif Olama, CEO of Jumia Egypt, discussed the company’s strong brand awareness across Africa, highlighting their success due to being African and benefiting from a growing population.

Also speaking at the forum were Mohamed Taher, Senior Business Development Manager at Hassan Allam Construction, and Marc Soueha, who discussed manufacturing commercial vehicles and unique aspects of the African commercial vehicle market.

At the Barbados investment forum, the Barbados delegation highlighted opportunities for collaboration between Barbados and Africa, emphasizing the stability of the country’s economy. Various industry leaders spoke about the potential for growth in sectors contributing to the country’s gross domestic product, and investment opportunities in areas such as tourism, agro-processing, and the green economy.

A panel discussion on ‘The role of the AfCFTA in Accelerating the Implementation of African Development Agenda 2063’ was also held at the event. The discussion focused on the crucial role of political will, financing, and the involvement of the private sector in state-level negotiations.

The IATF2023, Africa’s largest trade and investment fair, began on November 9 and runs until November 15. It is expected to attract over 1,600 exhibitors and 35,000 visitors, with projected trade and investment deals worth US$43 billion to be concluded during the event.

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