Egypt, France airdrop aid to Gaza amid growing humanitarian crisis, global criticism of Israel    Supply minister discusses strengthening cooperation with ITFC    Egypt launches initiative with traders, manufacturers to reduce prices of essential goods    SCZONE chief discusses strengthening maritime, logistics cooperation with Panama    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Egypt reviews health insurance funding mechanism to ensure long-term sustainability    Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Egyptian president follows up on initiatives to counter extremist thought    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Egypt will keep pushing for Gaza peace, aid: PM    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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.