Egypt Looks Forward to Boosting Investments in COMESA Region

Egypt looks forward to boosting trade exchange with African countries, according to a statement issued on Sunday by the Cabinet.

As Egypt prepares to host the 21st Summit of the Common Market for Eastern and Southern Africa (COMESA), the Cabinet is committed to making further progress in that regard.

During the recent meeting of the Cabinet, the bilateral cooperation relations between Egypt’s Ministry and COMESA were reviewed.

The Cabinet also underscored that COMESA is a promising market with geopolitical and geo-economic importance.

"In a bid to promote commercial ties between COMESA member states, Egypt's government revealed that it is looking forward to enhancing joint action between African states to increase economic growth rates, overcome free trade obstacles among member countries, and face challenges posed by the coronavirus pandemic," Madbouly stressed.

This came in accordance with Egypt's comprehensive plans that aims at reinforcing regional integration and promoting trade relations with COMESA members.

It's worth mentioning that AfCFTA is the biggest trade deal in the world in terms of the number of member countries since the establishment of the World Trade Organisation (WTO) in 1994.