Addis Ababa, 08 July 2021 – The African Continental Free Trade Area (AfCFTA) could add at least 32 new trade partners to Egypt and help diversify and upgrade the country’s economy. To fully benefit from the AfCFTA, Egypt needs to update its policy approach for economic transformation, says the country’s Production Transformation Policy Review( PTPR) released today.
An economic heavyweight
Egypt is among Africa’s economic heavyweights. Although Africa is a small industrial player, accounting for only 2% of world manufacturing, Egypt is the continent’s top manufacturing hub, accounting for 22% of its value added in this sector.
The country’s fast-growing economy has been increasingly attracting international investors, who are choosing Egypt to produce for the African continent and the Middle East. Between 2017 and 2020, Egypt attracted the highest percentage of foreign direct investment (FDI) in electronics and electrical manufacturing in Africa (21% of the total nu
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Progress on Africa’s integration boosts prospects for economic transformation in Egypt
Development Centre
08/07/2021 – The African Continental Free Trade Area (AfCFTA) will add 32 new trade partners to Egypt and could be an important driver of diversification and upgrading for the country. To benefit from AfCFTA Egypt needs to update its policy approach for economic transformation, according to Egypt’s Production Transformation Policy Review.
The report was launched today under the auspices of the Government of Egypt and with the participation of senior officials from the Development Centre of the Organisation for Economic Co-operation and Development (OECD), the United Nations Conference on Trade and Development (UNCTAD), the United Nations Economic Commission for Africa (ECA), the UN Industrial Development Organization (UNIDO) and the African Export Import Bank (Afreximbank).
Germany
Italy
Malaysia
Egypt
German
Policyreview-productivetransformation
Annalisa-primi
Development-division
Development-centre
African-export-import-bank-afreximbank
German-international-cooperation
National-food-safety-authority