ITFC organizes Arab-Africa Trade Bridges forum

09/02/2017 05:29 AST

The International Islamic Trade Finance Corporation (ITFC) is organizing a forum of the Arab-Africa Trade Bridges (AATB) Program on Feb. 22-23, 2017, in Rabat – in partnership with the Islamic Development Bank (IDB) and the Minister-Delegate for Industry, Trade, Investment, and Digital Economy, in charge of Morocco’s Foreign Trade.

AATB

The program reflects the significant role of trade as a lever of sustainable economic growth, job creation, and poverty alleviation, it is necessary to further capitalize on the existing – but still untapped – trade potential between Arab and Sub-Saharan African countries. The Arab-Africa Trade Bridges Program is designed to leverage new commercial partnerships, strengthen existing ones, and increase trade flows between the two regions; in addition, the Program shall enhance trade and investment through cooperation among trade and investment support institutions.

Over a two-days period, the forum will be inaugurated by Moulay Hafid Elalamy, Minister of Industry, Trade Investment & Digital Economy; and Dr. Bandar M.H Hajjar, President IDB Group, and will bring together high-level representatives from the Arab and Sub-Saharan countries members of the Organization of Islamic Cooperation (OIC), namely: Trade Ministers, Directors of Trade Promotion Institutions, and Chairpersons of Chambers of Commerce and Industry, in addition to international financial institutions and banks.

On this occasion, Eng. Hani Salem Sonbol, CEO of ITFC, said: “This forum is a platform to showcase the opportunities and the trade potential between the Arab and African countries. Trade solutions opportunities including finance, logistical platforms, trade and credit insurance and infrastructure development will be presented during this important event, and will shape up the road map for the areas of development in both regions for the operation plan in the AATB program for the next three years.”

Choosing Rabat, Morocco to launch the program, is a reflection of the kingdom’s ability to establish partnerships with Sub-Saharan African countries. Morocco spares no efforts to support initiatives aimed at the economic and social development in African countries.

Saudi Gazette