Cairo:Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates Badr Abdelatty participated in the launch of the Egyptian-South African Business Council during an investment event focused on Africa's automotive sector. This event was organized by the Ministry of Investment and Foreign Trade, the African Export-Import Bank (Afreximbank), and representatives from South Africa.

According to State Information Service Egypt, Abdelatty emphasized the importance of this initiative, which comes at a time of growing momentum in Egyptian-South African relations and increased political engagement between the two nations. He stressed the need to transform this momentum into broader economic and investment cooperation.

The minister identified several promising areas for collaboration, including mining and mineral resources, industry, energy and renewable energy, agriculture and food processing, pharmaceuticals, transport, logistics, ports, and infrastructure. He also highlighted the potential benefits of both countries' membership in BRICS and South Africa's role in Afreximbank, which could expand financing and investment opportunities and support joint private-sector projects.

Abdelatty underscored the significance of enhancing transport and logistics links between northern and southern Africa, proposing the development of reciprocal logistics zones and regular shipping routes. He suggested greater utilization of the Suez Canal and both countries' ports to facilitate trade and investment across the continent.

The minister expressed his hope that the Business Council would function as an effective platform for converting available opportunities into tangible investments and projects, thereby strengthening economic and trade ties between Egypt and South Africa and contributing to broader African economic integration.