17 February 2020 06:23 PM

Sisi: UK-Africa Investment Summit 2020 serves development of continent

Monday، 20 January 2020 - 05:45 PM

The UK-Africa Investment Summit 2020 contributes to the development of Africa at all levels, said President Abdel Fattah El Sisi on Monday.

The president said, while addressing the summit, he is delighted to take part in the summit that promotes international efforts meant to support African countries in achieving development at all levels.

He expressed appreciation for the UK over its initiative that targets supporting African countries towards achieving the development goals, which are outlined by the development agenda 2023 as well the UN sustainable development goals 2030.

President Sisi expressed eagerness to build serious partnerships with African and international partners as well, including the UK.

He pointed out that such partnerships require an integrated parcel of cooperation frameworks that outlines future relations based on a set of elements, including providing government investment guarantees for international companies to reassure investors and encourage them to pump direct investments into African countries.

Adopting measures meant to boost trade exchange in a more just way with the continent - through opening British markets for African products - providing international funding for small and medium sized projects in African countries, along with improving the manufacturing and service rates in the black continent are among the elements that pave the way for serious partnership between the UK and Africa, Sisi said.

He added that current trans-border and continent challenges pose incentives towards joint cooperation and coordination in order to overcome them.

The convention of the summit comes amid global disturbance and unstable conditions combined with the mounting armed conflicts and spread of terrorism with its repercussions on the African and European continents, Sisi said.

He added all the above-mentioned challenges along with the soaring flow of the illegal immigration have negative effect on the efforts of achieving a comprehensive sustainable development in Africa.

The African continent possess promising and diversifying investment opportunities, making it one of the world's top business destinations, said Sisi.

The African countries are open for cooperation with all partners, including the UK, particularly in the four pivots prioritized across the black continent, namely promoting infrastructure projects that aim to achieve integration within the continent by linking major roads, railways and undertaking renewable energy projects.

The second pivot entails activating the African Continental Free Trade Agreement, while the third one focuses on addressing the key role of the local private sector in attaining development, the president said.

He added that the fourth pivot is based on empowering African women and youth by creating job opportunities and honing their skills.

MENA

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