Egypt participates in Ukraine International Travel, Tourism Exhibition    139 Palestinians killed in Israeli strikes on Gaza    Palestinian under attack in 73rd anniversary of Nakba Day    Egypt's Health Ministry launches awareness campaigns against COVID-19    Egypt partakes in drafting OECD Recommendations on AI    Palestine's Telecom Ministry names top social media supportive hashtags for maximum engagement    Egypt fines mobile operators EGP 20m for number portability violations    Sudan pledges to investigate killing of 2 protestors during peaceful sit-in    Grand Egyptian Museum finishes installing Tutankhamun's 3rd shrine    Egypt discovers several ancient tombs in Sohag's Al-Hamdiya necropolis    Egypt scales up readiness of hospitals nationwide for Eid Al-Fitr holidays    Egyptian hospitals in Sinai on alert amid Israeli aggression on Gaza    Egypt announces Thursday 1st day of Eid Al-Fitr    Nuweiba: Egypt's paradise of serenity    Egypt's current account deficit jumps to $7.6 bln in 1H of FY2020/21: CBE    Egypt's trade deficit down 1.2% to $3.34bn in February 2021: CAPMAS    Global economic recovery to improve debt service coverage ratios: Moody's    Egypt's Parliament discusses abolishing imprisonment for female debtors    India signs an agreement to buy 300,000 doses of Remdesivir from Eva Pharma    Egypt will locally manufacture first 2m Sinovac vaccine doses by June-end    2021 South East European Film Festival celebrates cinematic diversity of 18 countries    Turkey seeks to restore 'historic unity' with Egyptian people: Erdogan    Elneny's Arsenal targets 'remontada' in Europa League semi-finals    Zamalek eye return to victories at expense of Smouha in Egyptian Premier League    Al Ahly face injuries as they take on Al Ittihad Alexandria    Egypt buys 30 Rafale fighter jets from France    Direct flights between Russia and Egypt will resume in June, Ambassador    Egypt's Ahly is establishing a new stadium, expected to be 'sports complex'    Blinken presses Ethiopia's Abiy to ensure full withdrawal of Eritrean troops from Tigray    Forces opposed to Somali president control parts of Mogadishu    Nine people executed in Egypt over Kerdasa police killings in 2013    UEFA investigating Ibrahimovic's alleged ties to betting company    61 doctors died from coronavirus since start of April: Egypt's medical syndicate    Egypt targets 5.6% inflation rate in FY2020/21, 6% in FY2021/22    Egypt allocates EGP 132 bln to modernise railway system: Transport minister    Real Madrid not thinking about any Super League sanctions: Zidane    Total declares force majeure on Mozambique LNG after attacks    All the winners at the 93rd Academy Awards    Egypt's Ahly granted approval to build new stadium on Cairo outskirts    Aswan Int'l Women's Film Festival dedicates 5th edition to Kawthar Heikal    BREAKING: Egypt's information minister Osama Heikal resigns amid parliamentary criticism    'War was not Egypt's aim, but peace was the ultimate goal,' Sisi says on Sinai Liberation Day anniversary    Factbox: Key nominations for the 2021 Academy Awards    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    Veteran Egyptian journalist Makram Mohamed Ahmed passes away at 86    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





African economic integration requires financial inclusion: minister
Made in Africa workshop discusses the development of transport and communications infrastructure, says Nassar
Published in Daily News Egypt on 22 - 11 - 2019

African economic integration mainly requires achieving financial inclusion to encourage more trade finance and lending, especially in light of the increasing focus on insurance, leasing, and stock exchanges related to the development of capital markets and infrastructure development in the continent, said Egypt's Minister of Trade and Industry Amr Nassar.
During the Made in Africa workshop for investment on Wednesday, Nassar added that the role of African financial institutions is pivotal in creating an enabling environment for developing a modern African financial system to mobilise domestic resources and foreign direct investment among African countries.
This is to finance the African Agenda for structural economic transformation, including the African Union's Agenda 2063 and its major projects, the African Continental Free Trade Agreement (AfCFTA), ultra-fast African train, and commodity strategy.
The Minister stressed the importance of allowing regional economic blocs to follow up and implement regional integration plans and programmes.
He pointed out that the continent is on the threshold of a new phase in the process of joint action, which requires cooperation to ensure the advancement of regional and continental integration on a sound and sustainable basis.
The minister noted that the activation of AfCFTA is an urgent necessity to reach the objectives of the continent to achieve its aspirations and meet its challenges, as well as open new horizons for integration and development across the continent.
He added that the AfCFTA is a big step on the road towards economic integration, through the actual liberalisation of trade.
“The implementation of the agreement achieves real qualitative shifts in economic performance, development, regional, and continental integration through productive and commercial integration based on competitive advantages and establishing extended value chains on the continent to ensure its people to benefit from its promising resources,” the minister said.
He stressed the important role of African Ministers of Industry in meeting the challenge of access to African industrial integration based on strengthening regional value chains that would contribute to the integration of African economies into the global economy.
Through organising ‘Made in Africa' workshop, Nassar stated that Egypt is launching an open participation call to draw a clear roadmap towards achieving African industrial integration and establishing mechanisms that enable African leaders and decision makers to unify priorities and agendas for achieving industrial integration.
He added that the workshop will also discuss the development of transport and communications infrastructure to enable reaping the fruits of trade liberalisation in the continent. In addition, it will facilitate transportation and decrease the cost of transporting goods within the continent, which is the highest globally.
The made in Africa workshop is being held on Wednesday and Thursday with the participation of the private sector representing 25 African countries, eight European countries, and China.


Clic here to read the story from its source.