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Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid has participated in the 18th Ministerial Meeting of the African Continental Free Trade Area (AfCFTA) in Abuja, Nigeria, according to a statement.
The meeting was attended by trade and investment ministers from AfCFTA member states, along with officials from the AfCFTA Secretariat and representatives of African regional institutions.
Farid pledged Egypt's support for Nigeria as it assumes the presidency of the AfCFTA ministerial council while highlighting the progress achieved during Egypt's tenure.
He said Egypt successfully advanced technical and institutional negotiations, including securing continent-wide consensus on rules of origin for the ready-made garments, textiles, and automotive sectors.
Egypt's presidency focused on strengthening economic integration among African countries to secure greater opportunities for the private sector, supporting Egyptian exports to African markets, and enhancing the ability of Egyptian companies to expand within the continent.
The minister added that Egypt's presidency focused on promoting economic integration, removing barriers to intra-African trade, and creating greater opportunities for the private sector. These efforts will help expand Egyptian exports to African markets and strengthen the ability of Egyptian companies to grow their presence across the continent.
AfCFTA is a landmark treaty uniting 55 member states of the African Union (AU) to create the world's largest free trade zone by number of participating countries.
