OIF high-level economic forum kicks off in Cairo

Organized by the Foreign Ministry in cooperation with the OIF, a high-level economic forum opened here earlier Monday.

Short for the International Organization of La Francophonie, the OIF has dispatched an economic mission on a two-day visit to get firsthand information about opportunities to enhance joint cooperation with Egypt.

Addressing the inaugural session of the forum, Deputy Foreign Minister for African Affairs Hamdi Loza said Egypt is seeking to support all OIF activities through boosting cooperation and trade exchange, as well as establishing new partnerships.

Cairo backs political and economic relations with all OIF members, Loza noted.

He said Egypt is acting to seize all available economic opportunities, adding that “we are really very happy to organize this edition of the forum and inaugurate the OIF regional office inside Cairo University.”

Loza cited opportunities offered by the Suez Canal Economic Zone (SCZone) to investors, also reminding of a reform program implemented by the Egyptian government and positive indicators in this regard.

Loza said the program of the forum is concerned with achieving sustainable development until 2030 in line with an African Union (AU) agenda.

It focuses on the files of food security and renewable energy, the Egyptian diplomat said.

In his speech at the forum, Henri Monceau, Director of the Economic and Digital Francophonie of the OIF, said the Organization is acting to help all investors wishing to support businesses in Egypt.

The Economic Francophonie includes chambers of industry and trade, as well as start-up companies and entrepreneurs (women and youth) in member states, Monceau told the gathering.

He touched upon digitization and regional integration plans, stressing OIF support for establishing a free trade exchange zone.

The Egyptian government does have its own economic priorities, such as supporting the private sector and achieving food security, Monceau acknowledged. The OIF economic mission, currently visiting here, will work to promote investments in these fields, he noted.

Participants in the forum have already held a main session on investment opportunities in Egypt.

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