Cairo Chamber of Commerce

Newsletter

Cairo hosts first economic forum between Egypt and Mauritius

Newspaper Title: https://www.zawya.com/

Newspaper Number:

Sunday - 27 November 2022

Cairo will be hosting on Sunday the first ever economic investment forum between Egypt and Mauritius, which is being organised jointly by the Egyptian-African Businessmen Association (EABA) headed by Yousry Al-Sharkawy and the Mauritian Economic Council headed by Hemraj Raminal.

It is also being organised in coordination with Mauritius’ Ambassador in Cairo Goberd Hane Raminal and the Egyptian Embassy in Mauritius.

The forum will be held within the framework of the role played by the EABA to support economic cooperation between the Egyptian financial and business community with its counterparts in brotherly African countries.

“The forum will see the participation of more than 25 companies from Mauritius in six different economic sectors and more than 125 Egyptian businessmen, members of the EABA, and members of the Egyptian Financial and Business Community Associations and Federations,” said Al-Sharkawy.

The president of the EABA explained that the association has prepared an intensive programme for the Mauritian economic delegation, where the Economic Forum will be held on Sunday in Cairo, during which investment and trade opportunities will be reviewed inside Mauritius, followed by bilateral meetings between the financial and business communities in the two countries.

He also pointed out that the General Authority for Investment and Free Zones (GAFI) is hosting the activities of the second day, which includes introducing the Mauritian side to the Investor Services Centre in Egypt and various investment fields.

Furthermore, Al-Sharkawy explained that the forum aims to stand on the visions and ideas of economists in the two countries on the successive economic crises facing the African economy and how to raise the terms of trade exchange between both countries.

He pointed out that the establishment of this huge forum is a confirmation of the depth of economic relations between Egypt and Mauritius, pointing out that relations between the two countries have witnessed unprecedented developments in recent years.

Al-Sharkawi also noted that Mauritius is an important country in the COMESA market, which Egypt seeks to enhance trade exchange with.

Additionally, he said that the data of the Egyptian Central Agency for Public Mobilisation and Statistics (CAMPAS) showed an increase in the value of trade exchange between Egypt and COMESA countries by 30.2% to record $3.1bn during the first nine months of 2021 compared to $2.4bn during the same period of 2020.

“Egypt’s membership in the Comesa gives it a wider range of movement in the field of market opening and obtaining new comparative advantages,” he said.

For his part, President of the Mauritian Economic Council Hemerj Raminal praised the efforts of the Egyptian-African Businessmen Association in holding such major economic forums, pointing out that the forum emphasises the importance of the role of civil society and the African private sector in bringing about the economic development of African countries.

He also stressed that it is planned to discuss ways to direct the private sector to take advantage of the abundant resources of Africa in order to achieve high growth rates.