Cairo:Industry Minister Khaled Hashem emphasized the importance of the African Continental Free Trade Area (AfCFTA) as a critical instrument for enhancing intra-African trade and economic integration. He stated that the ministry's strategy focuses on fortifying Egypt's industrial capabilities and fostering integration with African industries and markets.
According to State Information Service Egypt, Hashem delivered these remarks during a forum organized by the International Cooperation Committee of the American Chamber of Commerce in Egypt, in collaboration with the African Export-Import Bank (Afreximbank). The event brought together notable figures such as Omar Mohanna, Chairman of the American Chamber of Commerce in Egypt; Oluranti Doherty, Director of Export Development at Afreximbank; Ahmed Maghawry, Assistant Minister of Industry for International Cooperation; along with representatives from Egyptian companies, government entities, financial institutions, and industrial partners.
The minister expressed gratitude to the American Chamber of Commerce in Egypt and Afreximbank for orchestrating the event, which served as a platform for business leaders and policymakers from across Africa to convene. He underscored the forum's significance amid ongoing global economic transformations influenced by geopolitical shifts, technological advancements, and the reconfiguration of global supply chains.
Hashem highlighted the dual nature of these developments, presenting both challenges and opportunities for Africa to bolster industrial capabilities, enhance regional trade, attract investments, and achieve greater integration into global value chains. He referenced Afreximbank's African Trade Report 2026, which noted that Africa's GDP growth reached 4.5% in 2025, with total merchandise trade amounting to approximately $1.5 trillion.
Intra-African trade experienced a 5.5% increase, reaching about $214 billion in 2025, with Egypt contributing around 4.4% of this total, equivalent to $9.3 billion. Despite this progress, Hashem pointed out the continent's untapped potential in manufacturing, value addition, and the development of regional supply chains. He concluded by asserting that while AfCFTA is a vital mechanism for harnessing this potential, further steps are needed beyond market opening and tariff reduction to expand intra-African trade.