Egypt’s Industry seeks Supreme Council to supervise Egyptian-African Ties

Egypt’s Industry ministry has suggested establishing a supreme council to supervise the Egyptian -African relations, a source in the ministry told Amwal Al Ghad on Monday.

This step comes within the frameworks of the general plan outlined by the state to enhance cooperation with African countries.

The source added that the council is responsible for preparing, following up, and implementing strategies and plans related to African states.

He further noted that there is a four-axises plan formed to enhance the cooperation with the African countries:  the first axis depends on trade liberalization through making maximum use of COMESA and enhancing the bilateral cooperation with key countries such as South Africa and Senegal.

The first axis also depends on bringing out the integration between the three economic blocks; The Common Market for Eastern and Southern Africa (COMESA), Southern African Development Community (SADC) and East African Community (EAC) through launching the African Trade Zone (AFTZ).

The Source clarified that the second axis relies on joint projects through inviting the Egyptian businessmen to invest in the African countries.

Whereas the  third axis is to promote  the Egyptian exports and signing commercial deals along with organizing fairs for the Egyptian products abroad.

In addition to, the third axis relies on building up network for commercial information including all commercial information and data necessary for commercial exchange, the source noted.

Moreover, the fourth axis depends on financing and guaranteeing the exports and investments through enhancing the role of Export Credit Guarantee Company  of Egypt and Export Development Bank of Egypt in providing the  necessary finance in addition to exchanging direct banking relations and establishing new branches of Egyptian banks.