Egypt's Alamein Africa Forum opens, focusing on trade, investment

Around 1,500 African business leaders gathered in Egypt on Friday for the inaugural Alamein Africa Forum, focused on investment, trade and economic cooperation across the continent.

The forum, being held in the northern coastal city of El Alamein from October 2 to 4, seeks to deepen economic integration and business ties among African countries. It is co-organized by the Egyptian government, the African Export-Import Bank and the African Union Development Agency.

Egyptian Minister of Planning and Economic Development Ahmed Rostom described Africa as "a top strategic priority for Egypt", urging a shift away from viewing the continent primarily as an export market towards treating it as an integrated economic system.

Rostom proposed a "co-innovation" model linking Egyptian and other African entrepreneurs through technology exchange and cross-border regional value chains.

He also called for greater use of "patient capital" and venture capital to support investment under the African Continental Free Trade Area, saying this could help position Egypt as a launchpad for African startups seeking access to global markets.

The Alamein Africa Forum was established as a biennial African business forum to be held in Egypt.