Nigeria-Egypt maiden trade conference to promote economic, business relations

 October 10, 2022  3 min read

-agency report

From right: President of Nigeria-Egypt Cultural and Socio-Economic Forum (NECSEF), Mahmood Ahmadu with the Nigerian Ambassador to Egypt, Nura Abba Rimi, and Dr Yousry El Sharkawy, chairman of Egyptian African Businessmen’s Association (EABA) at the opening of the NECSEF building on Sunday in Cairo

Nigeria and Egypt are set to hold its maiden edition of the Nigeria–Egypt Trade Conference and Exhibition (NETCE) on Monday in Cairo to promote economic and business relations between both countries.

The two-day conference is jointly organised by the Nigeria-Egypt Cultural and Socio-Economic Forum (NESCEF) in collaboration with the Nigerian Embassy, Cairo, and the Egyptian African Businessmen’s Association (EABA). 

The News Agency of Nigeria (NAN) reports that the NETCE 2022 is meeting under the theme ‘‘For Africa, By Africa’’, exploring the African Continental Free Trade Area (AfCFTA).

Mr Abdul-Razaq Musa Executive, Assistant to the President, NESCEF, announced this in a statement on Sunday in Abuja, stating that the joint conference would be held under the auspices of the Government of Egypt. 

Musa said that the NESCEF would also inaugurate its new office in Cairo to promote successful bilateral economic and business relations.

“The conference will bring together government ministers, governors, ambassadors from Nigeria and Egypt along with over 300 delegates, visitors and exhibitors.

“Over the course of two days in the ancient city of Cairo, businessmen and women from Africa’s two largest economies will engage in Business-to Business sessions, exchange ideas. 

“They will attend exhibitions from participating Nigerian and Egyptian companies, showcasing their products and services.

“An industrial tour, scheduled for October 12, will afford the Nigerian participants to learn about the industrial environment and the latest technology in Egypt.     

“NETCE 2022 is meeting and exploring the African Continental Free Trade Area (AfCFTA).

Speaking about the conference, president of the NECSEF, Mahmood Ahmadu, expressed excitement over the meeting which would be a gamechanger for trade relations between both countries and the continent.

‘‘We welcome all delegates. Twice, we have had to postpone this meeting but we are excited it is happening.

“And it is providing limitless opportunities for us to enhance trade between Nigeria and Egypt to a new and enviable height,’’ Ahmadu said.

Nigerian Ambassador to Egypt, Nura Rimi, said that the current trade volume of the two countries stood at $141 million.

Rimi expressed optimism at the successful implementation of reforms promoting transparency and efficiency in the business environment.

He said it would also promote economic diversification into real sectors like agriculture, mining and manufacturing.

“Nigeria is ready to work towards achieving much higher levels of bilateral trade with Egypt.”

The ambassador said the high population growth rate and the size of the two largest economies in Africa presented a win-win situation for the two countries.

Earlier on Sunday, the organisation took advantage of the gathering to inaugurate its corporate office in Cairo.

The building co-locates Online Integrated Solutions (OIS), a multi-national company also owned by Mahmood Ahmadu, which provides services for Nigerian Foreign missions, Nigerians in the Diaspora and NECSE.

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