Sisi: FTA Liberalizes 90% of African Tariffs

Egyptian President Abdel Fattah al-Sisi said on Friday that the free trade agreement (FTA) in Africa would Liberalize more than 90 percent of tariffs, which reflected positively on the income of the African citizen.

Speaking at the Investment for Africa Forum, which takes part in the new administrative capital, Sisi added that the entry into force of the agreement is a milestone in continental integration, with includes 1.2 billion people with a GDP of $ 2.5 trillion.

Under the patronage of President Abdel Fattah El-Sisi, the 2019 Africa Conference is organized by the Egyptian Ministry of Investment and International Cooperation, in cooperation with the Ministries of Foreign Affairs, Trade and Industry. 

Sisi asserted that development is not only the responsibility of the governments but, the private sector is a key role in promoting growth in Africa.

The president called for reaching solutions based on regional integration, turning Africa into an international manufacturing hub.

Sisi noted that Egypt works to activate the African Continental Free Trade Agreement (AfcFTA) to help boost Intra-industry trade among African countries.

The forum will be attended by a number of heads of state, ministers from various African countries, 2,000 representatives of Egypt's development partners, businessmen, investors and high-level business figures from around the world to stimulate investment in the continent.