Al-Wathiq Billah has participated
in the 4th session on the role of industry as Africa’s development driver.
NAC- June 1, 2022
Yahya Al-Wathiq Billah, head of the
Egyptian Commercial Service, has participated in the 4th session at the
“Egypt Can By Industry” conference, held in the New Administrative Capital (NAC),
and organized by the Ministry of Immigration and Egyptian Expatriates’ Affairs
in cooperation with the Ministry of Trade and Industry, and other ministeries concerned.
Entitled “Industry: Africa’s
Development Driver,” the event was attended by Minister of Immigration Nabila
Makram, Commissioner for Trade and Industry of the African Union Commission Albert
Muchanga, President of the Africa Business Council Amany Asfour, Deputy
Executive Secretary of the UN Economic Commission for Africa Hanan Morsi, the World
Bank’s Senior Financial Sector Specialist Ahmed Rostom, along with a host of representatives
from African countries.
“Africa is the land of major
industrial and commercial opportunities, with 54 nations that import at some $600
billion annually and consume $4 trillion, according to figures in 2020,” Al-Wathiq
Billah said.
He added that FDIs in the Dark Continent amounted to $46 billion and
Egyptian investments $13 billion last year, stressing the need to boost trade
with African markets which account for only 18% of the continent’s total trade
flows.