During a meeting with a delegation from the African Union Commission on Monday, Prime Minister Mostafa Madbouly said that President Abdel-Fattah El-Sisi is giving priority to the African Continental Free Trade Agreement (AfCFTA) agreement under Egypt’s current chairmanship of the African Union, affirming that Egypt is looking forward to hosting the headquarters of AfCFTA’s executive secretariat.
Madbouly stressed the importance of the African AfCFTA agreement due to its positive role in promoting cooperation and integration in the African continent, pointing out that Egypt’s capabilities, including logistic and infrastructure ones, enable it to be the seat of the head office of the agreement.
The PM said that Egypt was one of the first countries that signed the agreement, which is due to take effect within days after 22 countries have ratified it so far.
According to Madbouly, the agreement seeks to eliminate tariff and non-tariff barriers to the member countries’ trade in goods and services with the aim of reducing prices and achieving sustainable development in the continent.
Members of the African Union Commission delegation expressed happiness over visiting Egypt to review Cairo’s plan for hosting AfCFTA’s head office, praising President El-Sisi’s support for the African Union and issues of cooperation and development in the continent.