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MTI, IsDB sign Program Of Work on securing investment
4 June 2022  -  Sector :  -  Entity :  -  Category : Trade News

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The program was signed at the Islamic Development Bank (IsDB)’s 2022 Annual Meetings in Sharm El-Sheikh.

Sharm El-Sheikh- June 4, 2022

Minister of Trade and Industry Nevine Gamea has participated in the Islamic Development Bank (IsDB) Group’s 2022 Annual Meetings held in Sharm El-Sheikh on 1-4 June, under the auspices of President Abdel Fattah al-Sisi.

Entitled “Beyond Recovery: Resilience and Sustainability”, the event witnessed the signing of a Program of Work (PoW) between the Egyptian government, represented by the Ministry of Trade and Industry, and the group’s International Islamic Trade Finance Corporation, the Islamic Corporation for the Insurance of Investment and Export Credit and the African Export-Import Bank on securing investment.

The event comes within the Arab-Africa Trade Bridges (AATB) program and aims to enhance the competitiveness of the Egypt’s export sectors in 2022-2023.

“The program would support government efforts to boost Egyptian exports’ access to African markets while benefiting from the African Continental Free Trade Agreement (AfCFTA),” Gamea said following the signing ceremony, which was attended by Prime Minister Mostafa Madbouly.

It will include: organizing Egyptian trade missions to various economic forums; supporting local firms’ participation in African trade fairs, workshops and conferences; as well as financing the country’s exports and investments in the continent.

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