IATF…..A Brief About It
The Intra African Trade Fair (IATF) is Africa’s largest free trade and investment exhibition and a single market for importers and exporters made up of 1.4 billion people created by the African Continental Free Trade Area (AfCFTA) with a GDP of over US$3.5 trillion.
It is worth noting that Egypt hosted the first edition of IATF from 11 to 17 December 2018. This exhibition was a historic event, as it was the first regional trade exhibition held on the African continent. During this exhibition, Trade deals worth US$32 billion were concluded, and many trade agreements were signed between African countries.
Egypt Hosts the 3rd Edition of IATF 2023
Egypt hosts the 3rd edition of IATF 2023, which is organized with the African Union and the Secretariat of the African Continental Free Trade area, from 9 to 15 November 2023 at the Egyptian Exhibition Center.
The Ministry of Trade and Industry was keen to provide all forms of support to the organizers, countries, and companies participating in the exhibition, which numbered about 75 countries and 1,600 exhibitors from various African countries, in a way that befits Egypt’s regional and global status.
What Is Included in IATF 2023?
The IATF includes a trade exhibition through the platforms and pavilions of participating countries and large and medium companies to display their capabilities and services, a forum for trade and investment, a platform for Africa’s creative economy in unique fashion, music, and culture, “Days of Countries” which will showcase investment opportunities for countries, the virtual African exhibition, and the Africa Automotive platform.
The Purpose of Hosting this Exhibition in Egypt
The exhibition aims to boost intra-African trade and showcase the great investment opportunities and potentials available in the African continent. It also contributes to activating the African Continental Trade Agreement (AFCFTA).
It is worth noting that hosting IATF reflects Egypt’s commitment to advancing comprehensive economic development efforts in the African continent by increasing trade exchange rates, promoting joint manufacturing projects, and working to achieve continental economic integration.
Statements on the IATF 2023 in Egypt
Mr. Ahmed Samir, the Minister of Trade and Industry in Egypt, explained that IATF represents a distinguished opportunity to make trade and investment deals aimed at achieving industrial and investment integration in the African continent. He also pointed out that the exhibition represents an important opportunity to display goods and services and provide commercial and investment information in African countries.
He stressed the importance of benefiting from the exhibition in facing the negative repercussions of the successive global economic crises by maximizing the use of the capabilities and components of the African continent and providing the continent’s needs by enhancing the intra-African trade.
On the other hand, Mrs. Kanayo Awani, Vice President of the African Export-Import Bank, expressed her confidence in the Egyptian government’s success in hosting the 3rd edition of the IATF, which reflects its position at the regional and global levels.
She also stressed that Egypt is qualified to make the maximum benefit possible from the IATF, especially in light of its possession of all the commercial and investment capabilities and components to benefit from the opportunities that the IATF will provide in the fields of trade and investment with various countries of the African continent.
It is clear that Egypt exerted a great effort to confront global crises, such as COVID-19 Pandemic and the Russian-Ukrainian war. As evidence for this, it hosted the IATF 2023 to boost the intra-African trade and showcase the great investment opportunities and potentials available on the African continent. For more information about the IATF, click here or here.
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