Egypt, South Africa Launch Joint Business Council at Alamein

Egypt and South Africa have launched a joint business council at the Alamein Africa Forum, in a move aimed at boosting trade, investment and economic cooperation between the two BRICS members.

 

The council is intended to expand bilateral trade, promote investment and deepen economic ties between the two countries, according to TV BRICS.

 

Egypt's Foreign Minister, Badr Abdelatty, announced the initiative at a meeting on investment opportunities in Africa's automotive sector.

 

Abdelatty said the creation of the council reflected the growing political dialogue between Cairo and Pretoria, and should help turn that momentum into practical economic cooperation.

 

 The council will concentrate on a number of priority areas, including mining and mineral resources, industry, renewable energy, agriculture and food production, pharmaceuticals, as well as transport and infrastructure.

 

These sectors are expected to open up new opportunities for joint projects and investment.

 

 

Abdelatty also underlined the potential for cooperation within BRICS.

 

He urged both countries to use their membership of the bloc to widen access to financing and to support economic initiatives.

 

Transport and logistics were identified as another key area of cooperation.

 

The minister proposed the development of mutual logistics zones and the establishment of regular shipping routes between the two countries.

 

He also called for greater use of the Suez Canal and national ports to ease trade between northern and southern Africa.

 

According to Abdelatty, the joint business council is designed to convert existing economic opportunities into concrete investments and strengthen bilateral relations.

 

The initiative is also expected to support wider economic integration across the African continent.