Abul-Naga: transport major impediment to inter-African trade flow

Minister of International Cooperation Fayza Abul Naga said transport is the major hurdle to increasing the volume of inters- Africa trade.

Speaking to the African Chambers of Commerce, Agriculture and Industry conference Tuesday, Abul Naga said inter-Africa trade stood at only 6 %, compared to African states' trade with world countries.

The African private sector and African Development Bank (ADB) have an active role in surmounting the obstacles facing the flow of African-African trade, she said."

The minister warned of the threat posed by the influx of Chinese exports into African markets which, she said, has a negative impact on African industries and inter-trade.

Abul-Naga highlighted the significance of agreements signed by African states in the field of capital and investors protection as a means to up joint investments among African countries.

"African governments have to put in place a mechanism to solve problems facing African investors, importers and exporters, said Abul Naga.

The minister underlined the Egyptian view that African economic blocs needed modifications to meet the requirements of today's economic milieu, citing the example of COMESA which needed a database on businesses and other details of its member states to help increase trade movement among them.