The Mauritian Economic Council, led by Hemraj Raminal, and the Egyptian-African Businessmen Association (EABA), led by Yousry Al-Sharkawy, will jointly hold the first-ever economic investment event between Egypt and Mauritius on Sunday in Cairo.
Additionally, Goberd Hane Raminal, the ambassador of Mauritius to Egypt, and the Egyptian embassy in Mauritius are working together to plan it.
The symposium will take place as part of the EABA’s responsibility in promoting economic collaboration between the Egyptian financial and business community and its counterparts in neighboring African nations.
“The forum will see the participation of more than 25 companies from Mauritius in six different economic sectors and more than 125 Egyptian businessmen, members of the EABA, and members of the Egyptian Financial and Business Community Associations and Federations,” said Al-Sharkawy.
The Economic Forum will be held on Sunday in Cairo; during this time, investment and trade opportunities will be reviewed in Mauritius.
This will be followed by bilateral meetings between the financial and business communities of the two countries, according to the EABA president, who also explained that the association has prepared an intensive schedule for the Mauritian economic delegation.
The second day’s events, which include exposing the Mauritian side to the Investor Services Centre in Egypt and different investment industries, are being hosted by the General Authority for Investment and Free Zones (GAFI), he added.
Al-Sharkawy also outlined the forum’s objectives, including how to improve the conditions of commerce between the two nations and how to address the successive economic crises that the African economy has faced.
He emphasised that the foundation of this sizable forum is evidence of the strength of Egypt’s and Mauritius’s economic ties, noting that these ties have undergone previously unheard-of advancements in recent years.
Al-Sharkawi also mentioned Mauritius as a significant COMESA market participant with whom Egypt wants to expand economic relations.
Additionally, he said that the data of the Egyptian Central Agency for Public Mobilisation and Statistics (CAMPAS) showed an increase in the value of trade exchange between Egypt and COMESA countries by 30.2% to record $3.1Billion during the first nine months of 2021 compared to $2.4bn during the same period of 2020.
“Egypt’s membership in the COMESA gives it a wider range of movement in the field of market opening and obtaining new comparative advantages,” he said.
Hemerj Raminal, the president of the Mauritian Economic Council, praised the Egyptian-African Businessmen Association for organizing such important economic forums and emphasised the forum’s emphasis on the role of civil society and the African private sector in advancing the economies of African nations.
He also emphasised that it is planned to talk about how to get the private sector to use Africa’s tremendous resources to achieve high growth rates.