By John Ikani
The vibrant city of Cairo is playing host to the third Intra-African Trade Fair (IATF2023), a pivotal event that fosters increased intra-African trade.
Delivering his opening address at the event which commenced on Thursday, former President of Nigeria and Chair of the IATF2023 Advisory Council, Chief Olusegun Obasanjo asserted that fostering trade within the continent holds the key to unlocking Africa’s vast potential, propelling economic growth, fostering industrialization, and generating employment opportunities for its people.
In his address to the diverse assembly of entrepreneurs, investors, innovators, and policymakers at the trade fair, Chief Obasanjo stressed that IATF2023 transcends being a mere display of goods and services.
He underscored its role as a dynamic platform for networking, collaboration, and knowledge exchange, bringing together minds from across Africa and its diaspora to cultivate ideas, forge partnerships, and explore emerging opportunities.
“Through this spirit of cooperation and collaboration, we will unlock the untapped potential of our continent,” he declared, underscoring the trade fair’s representation of Africa and its diaspora’s commitment to economic integration and their collective resolve to build a prosperous future.
Chief Obasanjo urged governmental leaders and policymakers to create a trade-friendly environment by streamlining bureaucracy, aligning regulations, and investing in essential infrastructure.
IATF2023, he remarked, “Is a stepping stone toward a future where African nations trade freely, dismantling barriers and opening doors of opportunity for all.”
Entrepreneurs and innovators were encouraged to seize the moment, building commercial bridges between nations and communities. Chief Obasanjo further urged them to embrace the entrepreneurial spirit and leverage technology to unlock new markets, connect small-scale farmers with global partners, and empower women-owned businesses.
On his part, The Minister of Trade and Industry of Egypt, Ahmed Samir Saleh, welcomed guests to the trade fair, expressing Egypt’s delight in hosting this significant event.
The ceremony featured a holographic projection of Kwame Nkrumah, the former President of Ghana, a prominent advocate of a united Africa.
IATF2023, hailed as Africa’s largest trade and investment fair, is expected to draw over 1,600 exhibitors and 35,000 visitors and buyers. The trade fair anticipates the conclusion of trade and investment deals valued at $43 billion, positioning itself as a must-attend event for those keen on engaging in Africa’s single market of 1.4 billion people created by the AfCFTA, boasting a combined gross domestic product exceeding $3.5 trillion.
Attendees encompass buyers, sellers, importers, exporters, investors, manufacturers, government ministers, trade finance specialists, economic organizations, corporate executives, and innovative entrepreneurs from across Africa and beyond.
