COMESA Council probes boosting Egyptian-African cooperation
Egypt-Regional, Economics, 8/14/2001

Within the context of activating economic cooperation and trade exchange among the African countries in general and the COMESA and the Southern African Developing Countries (SADC) member States, the COMESA Business Council was held in Cairo last week on the sidelines of the COMESA/SADC Conference.

Mohamed Shafik Gabr, Head of the Council said that Egypt is keen to boost Egyptian-African cooperation in all fields and to set up joint investment projects with a view to augment African exports of high added value instead of exporting raw materials.

Gabr said that the COMESA Council has tackled a number of issues including activating the private sector's role in boosting cooperation in Africa besides setting up the private sector development centers in the COMESA countries.

He said that the COMESA Council also probed the current preparations to hold the African-American Economic Cooperation Conference to be held in the USA next September.

The aim of this conference is to prepare a file on investment opportunities in some of the COMESA member States which have relative privileges and need investments and high-tech and then, re-export their products to the African and US markets.

Furthermore, the Egypt International Economic Forum held also a symposium attended by Minister of Economy and Foreign Trade Youssef Boutros Ghali and the COMESA and the SADC trade and Economy Ministers.

Ghali asserted the importance of the private sector's role in activating economic cooperation among African countries.

He called on businessmen in the African countries to exchange visits and hold exhibitions to boost economic cooperation among them.

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