Under the patronage of the Egyptian Prime Minister Dr. Mostafa Madbouly, the Arab Bank for Economic Development in Africa (BADIA) and the Arab-African Trade Bridges Program (AATB) organized the Second Arab-Africa Trade Forum, at the Ritz-Carlton Hotel, Cairo, from 3rd to 4th November 2021.
About 200 economic and financial figures from the African and Arab regions participated in the forum, including ministers and representatives of the ministries of finance, economy, trade and international cooperation and representatives of Arab, regional and international funding bodies and organizations. It, also, hosts about 40 speakers from various Arab and African countries representing financing institutions, export guarantee and insurance institutions, chambers of commerce and export promotion agencies.
About the Arab Bank for Economic Development in Africa (BADIA)
Dr. Rania Al-Mashat, Minister of International Cooperation, holds the position of Governor of Egypt at the Arab Bank for Economic Development in Africa
Brief history
The Arab Bank for Economic Development in Africa (BADEA) was established pursuant to the resolution of the 6th Arab Summit Conference at Algiers (28th November 1973). The Bank began operations in March 1975.
BADEA is a financial institution owned by eighteen Arab countries members of the League of Arab States (LAS) which signed its Establishing Agreement in 18th February 1974. The Bank is an independent International Institution enjoying full international legal status and complete autonomy in administrative and financial matters. It is governed by the provisions of its Establishing Agreement and the principles of international law.
Headquarters:
The Bank’s Headquarters is located in Khartoum, the capital of the Republic of the Sudan.
Objectives:
The Bank was created for the purpose of strengthening economic, financial and technical cooperation between the Arab and African regions and for the embodiment of Arab-African solidarity on foundations of equality and friendship. To achieve this end, the Bank was given a mandate to:
· Participate in financing economic development in African countries.
· Stimulate the contribution of Arab capital to African development.
· Help provide the technical assistance required for the development of Africa.
Activities of the Opening Session of the Second for Arab-Africa Trade Forum
Wednesday 3/4/2021
Dr. Mostafa Madbouly, Prime Minister, participated in the activities of the opening session of the Second Arab-Africa Trade Forum, in the presence of Dr. Rania Al-Mashat, Minister of International Cooperation, Hisham Tawfik, Minister of Public Business Sector, Nevin Gamea, Minister of Trade and Industry, and Counselor Mohamed Abdel Wahab, President Executive Director of the General Authority for Investment and Free Zones.
At the outset, the Prime Minister delivered a welcoming speech to Dr. Fahd Al-Dosari, Chairman of the Board of Directors of the Arab Bank for Economic Development in Africa, and many economic and financial figures from the African and Arab regions, ambassadors, and representatives of Arab, regional and international funding bodies and organizations, participating in the forum, in which he expressed his happiness to attend this important forum, which seeks to strengthen the frameworks of Arab-African trade, and give a strong impetus to economic relations, thus contributing to the consolidation of relations between peoples.
During his speech, the Prime Minister thanked the Arab Bank for Economic Development in Africa for its efforts in organizing this forum, and for its elite and distinguished attendees, expressing his hope that this event would contribute to advancing economic cooperation in various fields, especially in the fields of trade, which reflects the enormous potential and capabilities of the countries of the region.