President of the Federation of Chambers of Commerce: Our partnership with Algeria creates added value for the two peoples and the two countries

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President of the Federation of Chambers of Commerce: Our partnership with Algeria creates added value for the two peoples and the two countries

President of the General Federation of Egyptian Chambers of Commerce, Ahmed El-Wakil, stressed the inevitability of partnership with sister Algeria. According to the directives of President Abdel Fattah El-Sisi, explaining that it is the popular will of the people of Egypt before it is a political and national trend; This is a sincere and clear desire of the Egyptian private sector in all sectors. "We want a true partnership that develops our peoples and our countries, and creates added value and job opportunities for our children".

This came in a speech by the President of the Federation of Egyptian Chambers, during the activities of the Egyptian-Algerian Business Forum, which was held this evening, Wednesday, in the new capital, on the sidelines of the ninth session of the joint Algerian-Egyptian Higher Committee, headed by Seifi Gharib, Prime Minister of the Republic of Algeria, and Dr. Mostafa Madbouly, Prime Minister, and in the presence of a number of ministers and senior officials from the two countries, heads of some relevant bodies and agencies, representatives of the private sector and partners. Development.

The holding of the Algerian-Egyptian Businessmen Forum, which includes a number of Egyptian and Algerian businessmen, comes within the framework of discussing opportunities for partnership and cooperation between the two sides, and comes in light of the two countries’ keenness to strengthen cooperation between them during the coming period, in the areas of trade exchange, joint investments, and in various other fields and sectors..

And during his speech; Ahmed Al-Wakil welcomed the Algerian Prime Minister and Prime Minister, expressing his happiness to participate in this forum among this distinguished gathering of leaders of the two governments and businessmen and businessmen from our two sister countries. He also conveyed to the attendees the greetings of more than 6 million members of the Egyptian Chambers of Commerce..

Ahmed Al-Wakeel said: Our region in the southern Mediterranean – more than any other region in the world – is exposed to global challenges that put negative pressure on various economic actors, starting with geopolitical conditions such as what sister Palestine and other countries are exposed to, through to climate change and its effects on oil and gas exports, water scarcity, trade wars, disruption of supply chains, etc., which creates crises and challenges to the sustainability of the economies of all countries. Region.

In this context, the President of the Federation added: But we as a business community do not see the challenges, but rather we see the opportunities that these challenges create, and our region is rich in those opportunities, which we must exploit, through partnership and alliance across four basic axes. The first axis is to develop cooperation in the areas of: industry, agriculture, multimodal transport, linking electricity, oil and gas networks, and energy projects, as well as striving to integrate resources, especially in industry inputs and production requirements and their joint manufacturing, and encouraging Investments and economic cooperation.

He referred to the second axis, which is defined in “reconstruction”, and conveyed Egypt’s experience in urgent plans to advance the infrastructure of electricity, roads, ports, water, and sanitation, and the establishment of the fourth generation of new cities and industrial areas, and major projects such as the Suez Canal axis with its pivotal ports, the reclamation of a million and a half acres, and giant fish farms. And others.

The President of the Union indicated that the fourth axis is focused on developing joint investments and trade exchange, not only in finished goods, but – which is more important – in production requirements, in light of the disruption of global supply chains, adding: In this context, we must act and take advantage of the free trade agreements, the agreement to encourage and protect investments, and the agreement to prevent double taxation. We must also strive to facilitate our intra-trade and give it preference, accelerate the registration of medicines, and work to unify specifications. And facilitating procedures, and this is what we should all strive for yesterday and today before tomorrow.

In the context, say: We seek to integrate our comparative advantages, as the Egyptian and Algerian private sectors, with full support from the governments, will give preference in business to the products of the two countries; Whether finished or as industry inputs, as well as working on cooperation in the industry, whether together, or in partnership with international companies, providing production requirements, manufacturing equipment, and training; With the aim of joint manufacturing, not only for the Algerian market, but for export to neighboring countries.

In addition to new industrial and service investments, likewise in infrastructure, real estate and tourism investment, by creating partnerships between consulting offices, contracting companies and suppliers from our two countries, and linking them with international financing bodies, to create strong alliances, seeking to implement development projects with the largest possible local component.

The President of the Union talked about the volume of trade exchange between Egypt and Algeria, pointing out that – despite its growth of 16.8% to exceed one billion dollars – it is a small drop in the sea of promising opportunities available. Likewise, we must strive to increase Egypt’s investments in Algeria, which exceeded 5 billion dollars during the past four years, in addition to new projects exceeding 8 billion dollars, in addition to implementing infrastructure projects that exceeded 9 billion dollars, through only 5 companies, so we must We seek to increase the number of Egyptian companies in sister Algeria..

Ahmed Al-Wakeel called on the participants and other business and financial leaders from both sides to engage in dialogue in the forum, to create alliances that work together to spread growth and development, through trade, reconstruction and joint investment, in addition to what happened during the Business Council meeting this morning..

The President of the Union concluded his speech by expressing his hope for success and progress for the benefit of Algeria, Egypt and the Arab nation