Egypt backs plans for a common African market, green minerals strategy

Egypt has reaffirmed its commitment to advancing Africa’s economic integration and sustainable development by supporting key agreements, Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, said during the recent meetings of African Ministers of Trade, Industry, and Mining held in Addis Ababa.

The meetings reached a pivotal consensus to convene a ministerial conference to assess African nations’ readiness for a new agreement to establish a common African market or customs union, in line with the Abuja Treaty, the cornerstone of Africa’s economic integration framework.

The gathering also endorsed the African Green Minerals Strategy, a forward-looking initiative aimed at fostering a just transition to a carbon-neutral future. The strategy prioritises sustainable utilisation of Africa’s vast mineral resources while promoting value-added processing to maximise benefits. Moreover, it aligns with the second ten-year plan for the implementation of Agenda 2063, the African Union’s roadmap for a prosperous and environmentally responsible continent.

The ministerial session concluded with a final communiqué outlining key recommendations to be submitted to the African Union’s decision-making bodies. These proposals will be presented for adoption by African heads of state and governments at the upcoming African Union Summit in February 2025.

Notably, Egypt’s active role in the discussions underscores its dedication to regional integration and sustainable development, reinforcing its leadership in fostering economic growth across the continent.

Attribution: Egypt’s Cabinet Statement

Subediting: M. S. Salama