18 February 2020 12:33 AM

FM presses for action to enhance investment in Africa

Monday، 10 December 2018 - 02:39 PM

Foreign Minister Sameh Shoukry has pressed for action to enhance foreign and inter-African investments.

Truly, Africa is the biggest developing region now, but the level of investments remains low, Shoukry told the Africa 2018 Forum, currently taking place in the Egyptian Red Sea resort city of Sharm El Sheikh.

This is what this session is all about, Shoukry said on Sunday 9/12/2018, pointing to an African free trade agreement that was signed with the aim to increase inter-trade.

He added that this should also enhance investment opportunities to meet the 2063 development agenda.

Hopefully, the African Union could, under Egypt's presidency, endorse the agreement so that it becomes effective in 2019, Shoukry expressed.

For that to happen, Egypt will be hosting a meeting of African trade ministers soon with the aim to mend some points in the agreement so that it becomes executable, the top diplomat noted.

Shoukry stressed the need for African countries to achieve inner stability, which is vital to creating an investment-friendly climate and attracting businessmen.

This is done inside the continent through African peace and security mechanisms that are also meant to counter terrorism, he said.

Shoukry also touched upon the importance of infrastructure in achieving development and improving inter-trade.

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