Intensive efforts to enhance Egyptian-African cooperation and open new areas for investment among the COMESA countries

20/11/2021


Today, Lieutenant-General Abdel Moneim Al-Terras, Chairman  of the Arab Organization for Industrialization, received Mr. Patrick Rajoelina, Minister of Foreign Affairs of the Nation of Madagascar, to discuss ways to support and enhance cooperation, industrialization and partnerships with Madagascar, exchange experiences and train human cadres.

 

A high-level delegation headed by the Minister of Foreign Affairs of Madagascar, which included Mr. Mameniaina Rafatomanga, participated in the talks.

Madagascar's Special Envoy

 

The talks witnessed an increasing interest in strengthening bilateral relations between the two countries in the coming period, as well as coordination on issues of common interest within the framework of the upcoming summit of the COMESA grouping, which Egypt will host on November 23, during which it will receive the presidency of the grouping from the State of Madagascar.

 

The meeting also dealt with studying possible investment and commercial partnership opportunities in various fields, as well as discussing strengthening cooperation mechanisms and benefiting from Arab Industrialization’s expertise in various fields of industry, including defense and civil industries, infrastructure, water technologies, medical supplies, new energy, communications, electronics, digital transformation processes, artificial intelligence, surveillance cameras and friendly cars. The environment using natural gas and other various fields of industry.

 

For his part, Patrick Rajoelina explained that the relations between the two countries are fruitful and in continuous progress, praising Egypt's efforts to support economic relations and industrial and commercial cooperation with the countries of the African continent, especially the COMESA grouping, pointing to the importance of strengthening the Egyptian partnership with Madagascar and continuing to transfer expertise through courses and grants. Which Egypt offers and contributes to building human cadres in Madagascar, in light of Egypt's great experience, and its keenness to transfer that experience to its brothers in the countries of the African continent.

 

In turn, "Mameniaina Ravatomanga" explained that the investment vision with Madagascar is directed only towards "agricultural industries", but this vision is incomplete, as Madagascar is a country with diverse and rich natural resources, ready for all types of investment and tax exemptions, and the ease of establishing new companies and economic projects in various fields, Pointing to Madagascar's welcome to benefit from the expertise of Arab Industrialization in the various development projects that Madagascar is witnessing.

 

In this regard, the "Terrace" stressed the importance of implementing President Abdel Fattah El-Sisi's directives to enhance joint cooperation with the African countries in various fields of industrialization, noting that there are joint committees to lay the foundations for cooperation between the two countries and to develop economic and trade cooperation, with the participation of many experts in the two countries. . .

The "Terrace" indicated that the Arab Organization for Industrialization is putting all its manufacturing and technological capabilities to participate in the various development projects taking place in the sisterly country of Madagascar. Information and communication technology according to the standards of the Fourth Industrial Revolution.

The Chairman of the Arab Organization for Industrialization also stressed the importance of enhancing cooperation between the COMESA countries and increasing the volume of investments and joint trade exchange, noting that Africa must take its rightful place on the world map and become an effective partner in the global economy.