The Ministry of Investment and Foreign Trade hosted the activities of the Egyptian-South African Business Forum, in the presence of Hossam Heiba, Chairman of the General Authority for Investment and Free Zones, Minister Plenipotentiary for Trade Yahya Al-Watheq Billah, Head of Commercial Representation, Calvin Fayoumi, representative of the Ministry of Trade, Industry and Competition in South Africa, and Abedingo Muhuto. A representative of the Ministry of Small Enterprise Development in South Africa, along with a large number of representatives of the business communities in both countries.
Hossam Heiba, Chairman of the General Authority for Investment and Free Zones, said that the forum reflects the strength of relations between Egypt and South Africa, noting that the distinguished participation of the business communities in the two countries is the best evidence of the strategic partnership between Egypt and South Africa, as they are the two pivotal gateways to investment in the African continent.
Hossam Heiba added that the two countries have been linked, for decades, by a strong and dynamic partnership based on cooperation in many sectors, and Egypt and South Africa also play decisive roles in the practical implementation of the African Continental Free Trade Area (AfCFTA) agreement, which represents a pivotal step in enhancing intra-African trade. Encouraging industrialization and facilitating regional integration.
The CEO of the Authority pointed out the important role of South African investments in Egypt, especially in the sectors of agriculture, tourism, manufacturing, and information and communications technology, stressing the Egyptian government’s commitment to providing all aspects of support to investors, through a comprehensive set of investment systems and incentives specifically designed to meet their diverse needs, in addition to To facilitate and automate procedures.
For his part, Commercial Plenipotentiary Minister Yahya Al-Watheq Billah, head of the commercial representation, said that the main goal of this forum is to strengthen the trade and investment partnership between Egypt and South Africa through direct communication between Egyptian and South African companies.
The head of the commercial representation stressed the importance of working to build a strategic relationship between Egypt and South Africa, which will contribute to drawing a new economic map for the African continent, by launching a serious dialogue between the two countries regarding trade exchanges and each country’s industrial policies.
Trade Commissioner Yahya Al-Watheq Billah pointed out the importance of strengthening joint work within the framework of the BRICS agreement by benefiting from the manufacturing capabilities of the two countries, enhancing the movement of intra-regional trade and developing joint investments between the Egyptian private sector and its South African counterpart, especially with regard to priority sectors for both parties. Among them are the textile industry, pharmaceuticals and the automobile industry.
The head of the commercial representation noted the readiness of the Egyptian private sector to contribute to infrastructure projects in South Africa, and to transfer advanced Egyptian expertise in this sector to all countries of the continent, in addition to the importance of the Egyptian side benefiting from South Africa’s experience in the field of automobile manufacturing.
He pointed out the importance of the role of the private sector in the two countries in contributing to a qualitative shift in the economic relations between Egypt and South Africa, as well as the importance of developing cooperation between the two sides in the small and medium enterprises sector.
In turn, Calvin Faume, representative of the Ministry of Trade, Industry and Competition in South Africa, said that the current visit of Mr. Ronald Lamola, Minister of International Relations and Cooperation in South Africa, to Egypt at the head of a delegation that includes representatives of the South African business community reflects the political and economic integration between the two countries in order to achieve sustainable development. The distinguished relations between the two countries in the fields of trade and investment.
He added that his country is working to develop its trade policies to enhance its trade relations with the countries of the African continent, pointing out that South Africa and Egypt are major players on the African continent, and they can implement joint projects that support the continent’s economy, especially in the areas of the automobile industry, agriculture, mining, oil and gas, communications, information technology, and pharmaceutical industries.
Abedingo Muhuto, representative of the Ministry of Small Enterprise Development in South Africa, pointed out that Egypt and South Africa follow the same approach in focusing on developing the small and medium enterprises sector, pointing out the importance of exchanging experiences in this important sector in order to support the economies of the two countries.
The business forum included holding bilateral meetings between Egyptian companies and their counterparts in South Africa, to review opportunities for joint investment and commercial cooperation in various fields.
