2024-07-05 09:07:28
Faced with an increasingly complex environment characterized by food insecurity and climate change, Arab and African countries are stepping up cooperation to build food resilience.
It was during the 3rd Tunisia Africa Business Conference that the 4thEgypt The Arab-African Trade Bridge (AATB) Programme Board Meeting was held.
The Minister of Economy and Planning, Fayel Oulji, who attended the meeting of financial figures from the Arab and African regions, said that this meeting was of great significance in the special context of Arab and African countries, which are working to reduce their food insecurity.
Promoting trade
Recalling that food security is a major challenge facing countries of both regions, the Minister stressed the need to develop and diversify the agriculture and agro-productive sectors to achieve this goal.
She added that the Arab-African Trade Bridge (Aatb) initiative is a major initiative that aims to boost trade between these countries and help improve investment flows between them. In this context, Oulji mentioned that the challenges of climate change have exacerbated the water stress faced by Tunisia, noting that the country is equipped with legislative means to better manage water scarcity.
The 2050 water strategy addresses water management and the agricultural sector and must He believed that it would enable Tunisia to adapt to climate change, which particularly affects Tunisian agriculture. She further added that the Aatb initiative provides an ideal framework for African and Arab countries to mutually benefit from their assets and the untapped potential in Afro-Arab trade.
The minister also added that Tunisia, as an Arab country and also an African country, having signed several free trade agreements such as Zlecaf and Comesa, can play an important role in promoting trade between the two countries. The two countries from different economic zones are within the framework of a tripartite partnership.
Discuss action plan During 2024-25
She added that collaboration with financial institutions such as Afreximbank or the African Development Bank and the International Islamic Trade Finance Corporation offers a solution to attract financing that can be invested in strengthening Africa’s transport infrastructure, which is one of the main obstacles to international trade in Africa.
Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (Itfc), said the meeting was an opportunity to address many important issues of concern to the member countries of the program, mainly the theme of food security. He said that agreements have been signed with a number of institutions and partners to support the agro-food industry and the supply of food to member countries. These agreements are part of the program signed in Cairo by the International Islamic Commercial Agency and the African Export-Import Bank in 2023, which amounts to US$1.5 billion.
He added that the meeting made it possible to discuss an action plan for the period 2024-2025, which will focus mainly on key issues such as food security and infrastructure, proposing various energy projects, roads, technologies, as well as strengthening trade among Arab countries and among Arab countries in Africa, especially through the provision of guarantee mechanisms for export operations.
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