Egypt Seeks to Turn Political Ties With Africa Into Productive Economic Partnership: Expert
Egypt Seeks to Turn Political Ties With Africa Into Productive Economic Partnership: Expert
The success of the Alamein Africa Forum will be measured by the number of joint projects, particularly in manufacturing and infrastructure, Egyptian international affairs expert Ahmed Asaad told Sputnik.
The expert named three key directions for strengthening economic ties:
🟠Boosting exports and opening new markets;
🟠Expanding Egyptian companies' investments and attracting financing;
🟠Integrating more actively into African production chains, leveraging Egypt's geographic position and the Suez Canal.
There's a significant gap between the level of political relations and economic exchange, with Egypt's trade with African countries standing at about $9.6 billion, while investment is only $756 million, Asaad noted.
Diversifying partnerships and markets in Africa could bring new sources of foreign currency, markets, and raw materials, strengthening Egypt's economic resilience and national security, he added.
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