Cairo – April 15 – Business Hub
The Minister of Trade and Industry, Nevin Gamea, announced the approval of the member states of the Common Market for Eastern and Southern Africa (COMESA) on the Egyptian initiative to achieve regional industrial integration in COMESA, where it was approved and the General Secretariat was tasked with starting its implementation.
The minister said that this approval was issued during the meeting of COMESA industry experts, which was held under the chairmanship of the Ministry of Trade and Industry represented by Mohamed Abdullah, head of the Egyptian Commercial Office in the Zambian capital, Lusaka, on April 11-12, via video conference technology, with the participation of COMESA member states and representatives of the commercial office and the Egyptian embassy in Lusaka, industry modernization center and the Industrial Development Authority, and trade agreements sector, During the meeting, the Egyptian side reviewed the initiative prepared by the ministry represented by the Industrial Modernization Center in coordination with the Lusaka Trade Office and the COMESA General Secretariat. This is within the framework of implementing the vision of Egypt’s current presidency of the Common Market for Eastern and Southern Africa. announced by His Excellency President Abdel Fattah El-Sisi during the activities of the 21st COMESA Summit on November 23.
Gamea explained that Egypt’s formulation of the regional industrial integration initiative stems from its regional responsibility towards the COMESA countries. The initiative is in line with the objectives of the COMESA Industrial Strategy 2017-2026 and the African Development Agenda 2063. It aims to achieve a number of goals that include increasing the manufacturing added value in the COMESA region, promotion of inter-industrial exports, Enhancing the integration of regional value chains and working to reshape these chains in light of the resources available to the COMESA countries, As well as the challenges posed by the Corona pandemic, In addition to establishing a platform for exchanging information and experiences available in the region and demarcating the resources available to member states to optimally exploit them to serve the objectives of regional integration and work to activate the role of financial institutions to provide financial services that contribute to achieving financial inclusion to serve the objectives of regional industrial integration.
She pointed out that the initiative included 7 main axes, namely the integration of regional value chains, and the inclusion of financial inclusion, and the development of intra-African trade, increasing industrial investment, Providing innovative solutions, digital transformation, sustainable blue economy development, Pointing out that each of the axes includes a number of activities intended to be implemented at the national, regional and continental levels during the short, medium and long terms, The implementation of which will extend beyond the term of Egypt’s presidency of the COMESA grouping.
For his part, Engineer Mohamed Abdel Karim, Executive Director of the Industrial Modernization Center, affirmed Egypt’s interest in transferring its expertise in various fields to the COMESA countries. Especially since deepening industrial integration among the grouping countries and achieving mutual benefit for all parties comes at the top of the Egyptian priorities during the period of Egypt’s presidency of the grouping, Pointing out Egypt’s keenness to cooperate with all member states and the COMESA General Secretariat to intensify efforts to implement the COMESA industrialization strategy, He developed a clear plan to implement activities aimed at deepening regional industrial integration, a matter with which Egypt formulated the COMESA Regional Industrial Integration Initiative to present it to member states and start implementing it during the Egyptian presidency.
He developed a clear plan to implement activities aimed at deepening regional industrial integration, a matter with which Egypt formulated the COMESA Regional Industrial Integration Initiative to present it to member states and start implementing it during the Egyptian presidency. The ministry will coordinate with the COMESA General Secretariat to discuss the necessary arrangements for holding this workshop.