The Participation of the Islamic Chamber at the 8th Africa Future Forum "Africa Forum of Investment and Commerce"
The Eighth Africa Future Forum “Africa Forum of Investment and Commerce” witnessed wide participation and successful conclusion in the presence of prominent high-level government officials, ambassadors, international businessmen and representatives of economic institutions from more than 30 countries, under the title “African Production” on 11-12 May 2022 in Algiers.
Believing in the importance of uniting African efforts, the Islamic Chamber participated in the “Africa Forum of Investment and Commerce” to develop economic relations among its member countries, as the Forum sought to create a new economic climate by identifying promising investment opportunities and to support economic cooperation and integration among African countries. The Forum also discussed several pivotal issues that have captured the world’s attention in recent times, such as: food security, self-sufficiency and investment in the continent of Africa.
The opening speech of H.E. Mr. Yousef Khalawi, Secretary General of the Islamic Chamber of Commerce and Development, delivered on his behalf by Mrs. Pakinam Halabi, Manager of Member Relationship Management (MRM) at ICCD, emphasized the essential role that globalization plays in facilitating global trade. His Excellency also pointed to the importance of collaboration between African countries to achieve self-sufficiency in various sectors. He stated: “We all know the high cost of importing in hard currency in various African countries that have found themselves a permanent prisoner of trade imbalance. The reason for this deficit is the import of their needs from global markets, which fluctuates around the clock and the only solution is strategic work to achieve self-sufficiency with neighboring countries. Even if we want to import, importing from neighbors is less expensive and safer.”
In this regard, H.E. Ambassador Albert Muchanga, Commissioner of the African Union for Trade and Industry and the Governor of Economic Development, Trade, Tourism, Industry and Mining, stressed that Africa possess many riches, and that Algeria has a strong position globally and also pointed out the importance of strengthening the role of the private sector to improve the economy of countries.
Within the framework of supporting and promoting investment and trade opportunities in the -Home of Resources- Africa, H.E. Dr. Talal Abu-Ghazaleh, President and Founder of Talal Abu-Ghazaleh Organization, joined the Forum virtually, explaining that Algeria is a country full of potentials and constitutes an important center for investment in all fields.
The Sudanese Minister of Investment and International Cooperation, H.E. Mrs. Ahlam Madani Sabel, also stressed the importance of supporting investment relations, referring to the strategic position of Sudan in the region, where she discussed the importance of supporting initiatives that aim to promote investment in Sudan. She also reviewed the country’s livestock, agricultural, water and mineral wealth.
During his participation in the Forum, H.E. Mr. Mr. Redha Saidi, Former Tunisian Minister and the Vice- Chairman of the African Investment Council, tackled the importance of establishing partnerships between the private and public sectors and the participation of all countries in the development and investment of the free-trade zone. His Excellency also urged cooperation and integration among African countries at all levels, stating: “African countries have a more developed relationship with European countries than brotherly African countries, despite the existence of many untapped opportunities in the fields of agriculture and the farming sector.”
In the light of the Forum’s discussion of the effective role played by economic integration among the countries of the African continent in upgrading them at all levels, H.E. the Minister of Foreign Affairs of the State of Zimbabwe, Mr. Frederick, stressed the abundance of natural and human resources in Africa and the importance of cooperation and strengthening investments among them to achieve self-sufficiency and sustainability.
The Islamic Chamber of Commerce and Development, represented by H.E. Mr. Yousef Khalawi, Secretary General of the Chamber, has concluded a cooperation agreement with the National Organization for Economic Development, represented by its President, Mr. Rubi Nasr eldin Mounir, as part of the activities of the Africa Forum of Investment and Commerce.
The agreement aims to strengthen the ties of cooperation between the two parties, by strengthening economic cooperation between the member countries of the Islamic Chamber and the Organization, developing the private sector in Algeria, developing small and medium-sized enterprises and supporting entrepreneurship.
H.E. Mr. Yousef Khalawi also met with Dr. Tayeb Shabab, President of the Algerian Chamber of Commerce and Industry, and Mr. Rubi Nasreddin Mounir, President of the National Organization for Economic Development, to discuss ways to advance bilateral relations and enhance joint cooperation and develop its mechanisms in various fields between the two parties.
The participation of the Islamic Chamber of Commerce, Industry and Agriculture in the 8th Africa Future Forum, entitled “Africa Forum of Investment and Commerce”, is a supportive step to the development of joint economic relations among its member states, believing in the need to create a new economic climate in the continent of Africa and to optimize the use of its rich and abundant resources.
About the Islamic Chamber of Commerce and Development:
The Islamic Chamber of Commerce and Development is an international institution of the Organization of Islamic Cooperation, representing the private sector in the countries of the Organization of Islamic Cooperation, A total of fifty-seven countries in addition to the observer members, and other affiliated members of Muslim minorities. The Chamber aims to promote cooperation among its member States in the fields of commerce, industry and information technology, and to promote investment opportunities and joint ventures among member States. Its membership consists of national chambers/ federations / councils of chambers of commerce and industry of the OIC Member States.
The Islamic Chamber of Commerce and Development was established on the basis of the decision issued by the seventh session of the Council of Foreign Ministers of Islamic Countries, held in May 1976 in Istanbul, Turkey. The idea was adopted by the first conference of chambers of commerce and industry in the Islamic world, which was also held in Istanbul in October 1977.
The constitution of the Chamber was then approved by the Second Conference of Chambers of Commerce and Industry held in December 1978 in Karachi, and its main headquarters is located in Karachi, the economic capital of the Islamic Republic of Pakistan.
For more information about the Islamic Chamber and its upcoming economic projects, you can visit https://iccdglobal.com, or contact the Media Department via the following e-mail: news@iccdglobal.com