Egypt Highlights Investment and Trade Opportunities in Africa

Photo : Egypt Media Office

Ambassador Ashraf Swelam, Egypt’s Assistant Foreign Minister for African Organizations and Communities, highlighted the vast investment and trade opportunities present in Africa, describing the continent as a dynamic and expansive market with a population of 1.4 billion people, the majority of whom are young. Swelam made these remarks during his participation as head of the Egyptian delegation at the ministerial meeting of the Russian-African partnership held in Sochi. In his speech, delivered on behalf of Egypt’s Minister of Foreign Affairs, Emigration, and Egyptian Expatriates, Badr Abdelatty, Swelam emphasized Egypt's pride in its role in strengthening the African-Russian partnership, a relationship first formally launched under Egypt’s presidency of the African Union (AU) in 2019. That year, the first summit of the African-Russian partnership took place in Sochi, co-chaired by Egyptian President Abdel Fattah El Sisi and Russian President Vladimir Putin.

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Swelam also highlighted the pivotal role of the African Continental Free Trade Agreement (AfCFTA), which was signed during Egypt’s leadership of the AU. He pointed out that this landmark agreement represented a major leap forward in the continent’s efforts toward regional integration and economic cooperation. 

The diplomat stressed Africa’s increasing focus on fostering strong external partnerships, especially with Russia, as a means to ensure peace and security, not just within the continent but globally. He emphasized the importance of these partnerships in supporting Africa’s development agenda, particularly the Africa Agenda 2063, which aims for a united and prosperous continent. 

Swelam acknowledged the many challenges Africa faces, particularly the ongoing conflicts, spread of terrorism, and other cross-border issues such as epidemics, illegal immigration, and the continent’s rising debt burden. He also underscored the declining levels of development aid, which have hampered progress.

During his address, Swelam called for comprehensive and deep reform of the global system, especially the international economic system, to address the historical injustices related to Africa’s underrepresentation in global decision-making bodies like the United Nations Security Council and the international economic governance structures.

The Egyptian diplomat praised the current cooperation with Russia, citing the establishment of the Russian industrial zone in Egypt as a model of successful collaboration. He also pointed to the ongoing large-scale projects in infrastructure and energy sectors as another example of how African-Russian cooperation could set a benchmark for mutual development. 

Swelam’s remarks were a clear call for stronger, more integrated partnerships that could enable Africa to overcome its challenges and take advantage of its economic potential. With an eye on a future of prosperity and stability, Egypt remains committed to advancing Africa’s interests on the global stage while deepening ties with strategic partners like Russia.

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