WORLD BUSINESS & ECONOMY

IATF returns to Cairo as Abidjan says no longer in position to host

May 30, 2023469 views0 comments

BY BEN EGUZOZIE

 

  • Trade fair now set for 9—15 Nov., 2023
  • Over 43bn in trade, investment deals expected; 1,600 exhibitors; 35,000 visitors

Cairo, the Egyptian capital city has been announced as the new host of the third Intra-African Trade Fair (IATF2023) which will now take place from 9 to 15 November 2023, against the earlier Abidjan, Côte d’Ivoire, from 21 to 27 November.

The IATF 2023 Advisory Council headed by Olusegun Obasanjo, Nigeria’s former president, said the decision to change the venue and dates of the continental event followed indications received from the government of Côte d’Ivoire that it was no longer in a position to host the trade fair, due to difficulties faced in importing semi-permanent structures and in complying with certain hosting requirements.

The third IATF is expected to attract more than 1,600 exhibitors, more than 35,000 visitors, buyers and conference delegates from all 55 African countries, the Diaspora and the rest of the world, with more than US$43 billion in trade and investment deals expected.

Organised by the African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) secretariat, the Intra-African Trade Fair (IATF) is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the AfCFTA.

IATF brings together continental and global players to showcase and exhibit their goods and services and to explore business and investment opportunities in the continent. It also provides a platform to share trade, investment and market information with stakeholders; and allows participants to discuss and identify solutions to the challenges confronting intra-African trade and investment.

In addition to African participants, the trade fair is also open to businesses and investors from non-African countries interested in doing business in Africa and in supporting the continent’s transformation through industrialisation and export development.

Egypt was host country of the inaugural IATF in 2018. The North African economic giant is described as offering first-class infrastructure and facilities.

The IATF 2023 organisers, in collaboration with the Egyptian ministry of trade and industry, are on track to finalise the arrangements and ensure that the IATF this year takes place as planned in excellent conditions.

According to Ahmed Samir, Egypt’s minister of trade and industry, the country is keen on extending all-out support to convene the fair in a form that suits Egypt’s position in Africa.

Samir said IATF2023 will provide a unique and valuable platform for businesses to access an integrated African market of over 1.3 billion people with a GDP of over $3.5 trillion created under the African Continental Free Trade Area.

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