South Africa-Egypt joint commercial chamber to be launched by end-2016

Federation of Egyptian Chambers of Commerce (FEDCOC) agreed with South Africa embassy on establishing joint commercial chamber between two states.

Chairman of FEDCOC, Ahmed El-Wakeel stated Tuesday that the new chamber is set to focus on activating cooperation between Egypt and South Africa in all fields; trade, industry, tourism, in addition to other services.

The chamber is scheduled to be launched during the visit of the Egyptian businessmen delegation to South Africa by the end of 2016, the head clarified.

He added that establishing the chamber comes among federation’s strategic plan to activate economic relations between Egypt and Africa in addition to supporting President Abdel Fattah al-Sisi’s initiative to create logistics axes from Alexandria to Cape Town.

El-Wakeel emphasised on the importance of upgrading Egypt’s economic relations with all African states.

Alexandria-Cape Town axe is an effective mechanism to develop Egypt’s trade and intra-investment with all African countries, the chairperson said, adding that the FEDCOC supports the axe through building logistics centres for Egyptian exports in a number of states.

The discussions with South African ambassador included the integration between Egyptian and South African industries notably automotive feeding, engineering, and chemical industries.

Moreover, both chairman and ambassador discussed cooperation in communications, information technology, software localisaition fields as well as the tripartite cooperation for joint manufacturing to export to free trade zones.