Money Moves March 26, 2018 at 10:28 am

Egypt to host first-ever Intra-African Trade Fair

Mildred Europa Taylor | Head of Content

Mildred Europa Taylor March 26, 2018 at 10:28 am

March 26, 2018 at 10:28 am | Money Moves

The hosting agreement was signed in Kigali on March 21 between the African Export-Import Bank (Afreximbank), the African Union, and the Government of Egypt --- African export-import bank

Over 1,000 exhibitors in Africa and beyond are expected to gather in Cairo, Egypt this December for the first ever Intra-African Trade Fair (IATF).

The trade fair, which will run from December 11 to 17, will provide a platform for sharing of trade, investment and market information, and will enable buyers and sellers, investors and countries to conclude business deals, according to intrafricantradefair.com.

The hosting agreement was signed in Kigali on March 20 between the African Export-Import Bank (Afreximbank), the African Union, and the Government of Egypt on the sidelines of the African Union Heads of State and Government Summit on the African Continental Free Trade Area (CFTA).

Benedict Oramah, president of Afreximbank said the trade fair would drive intra-African trade and support the implementation of the CFTA. The Fair would also attract more than 70,000 visitors, generating in excess of $70 billion in trade deals, he added.

Egypt became the host of the first edition of the trade fair following a competitive bid process. Ms El Shorbagy, Chief Executive Officer of the Export Development Authority (EDA) of Egypt assured all and sundry of Egypt’s commitment to make the gathering a success.

Last week, 44 African countries signed up to the African Continental Free Trade Area (CFTA) agreement to open their markets for free trade. The fair which was signed after the CFTA agreement would further boost African economic integration, Ms Shorbagy said. The Intra-African Trade Fair will be held every two years.

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