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Gamea tours Egypt pavilion at South Africa’s IATF, discusses with counterpart boosting mutual cooperation
16 November 2021  -  Organization :  -  Sector/Entity :  -  Category : General

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The two ministers discussed ways to enhance trade and industrial cooperation between Egypt and South Africa, on the sidelines of IATF.

Durban- Nov 16, 2021

Minister of Trade and Industry Nevine Gamea has visited the Egypt pavilion at the Second African Intra-Trade Fair (IATF), held in Durban, South Africa, on November 15 to 21, with the participation of 24 African countries.

 “Egyptian products have ample opportunity to access African markets, especially with its wide popularity among consumers there, thanks to their competitive quality and price,” Gamea said, pointing to the preferential treatment given to Egypt through trade agreements such as COMESA and the African Continental Free Trade Agreement (AFCFTA).

She also met with South African Minister of Trade, Industry and Competition Ebrahim Patel to discuss ways to enhance trade and industrial cooperation between the two countries, on the sidelines of  IATF.

“Egypt is looking forward to developing trade relations with South Africa,” Gamea noted stressing the importance of building a strategic partnership between the two countries, which would contribute to achieving economic integration across the continent.

The talks dealt with holding the Egyptian-South African Trade Committee soon, last hosted in Cairo in 2016, and forming a joint business council, in addition to cooperation in the field of small and medium enterprises.

 The two sides also discussed completion of the Cairo-Cape Town highway, which would increase bilateral trade and investment, rendering Egypt and South Africa among the top 10 trading partners on the Dark Continent within 5 years.

Furthermore, Gamea invited her South African counterpart to visit Egypt to explore potential investment opportunities in the local market.

According to official data, trade between the two countries amounted to $139.5 million and Egyptian exports to South Africa about $68.3 million in 2020. There are some 73 South African companies operating in Egypt with South Africa ranking 64th on the list of countries investing in the domestic market.

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