Intra-African Trade Not Exceeds 3% – Egypt Official

Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC), Ahmed El-Wakil described the volume of intra-African trade doesn’t exceed 3%.

During the expanded conference with the ambassadors of African states including 860 million customers with GDP of more than US$ 500 billion.

The total imports to African countries amounted to about US$ 199 billion, while the entire continent exports reached about US$ 220 billion, El-Wakil pointed out.

The African continent has suffered from poverty and the last two centuries of poverty and economic backwardness despite its richness of natural and human resources, he added.

Moreover, El Wakil asserted that it’s necessary to expand the bridges of cooperation between the countries of the continent so as to provide technologies and investments alongside developing renewable and non-renewable energy.