During his speech at the African Business Community in Beijing, Ahmed Al-Wakil, Chairman of the Egyptian Federation of Chambers of Commerce (FEDCOC) made the following remark: "Time has come for us to work together on developing our trade and joint investments, especially after that our Governments have developed a business performance’s atmosphere with a modern and attractive legislative and procedural structure supported by necessary modern infrastructure."
The event was attended by Abdel Fattah al-Sisi, President of Egypt and Xi Jinping, President of China, as well as by heads from 32 African countries and delegations from 53 countries.
He added, "The transport and logistics sector needs to be developed first, by initiating projects such as the Alexandria-Cape Town road, Mombasa-Nairobi railway, Lagos-Calabar, and hub ports like the Suez Canal hub, to efficiently share our goods."
Al-Wakil pursued on, stating, "We must strive together to exploit the tripartite free trade zone, which was established in Sharm el-Sheikh in 2015 and that includes half of the African countries, with a purchasing power exceeding $1.3 trillion for the whole region. It is considered as the first phase of the inclusive African Free Trade Area, opening up to greater prospects for cooperation."
Source: (Union of Egyptian Chambers of Commerce, Edited)
