Egyptian President Abdel Fattah al-Sisi has emphasized the urgent need for peaceful resolutions to conflicts across Africa. In his address during the inaugural Alamein Africa Forum held in New Alamein, Sisi underscored the importance of supporting state institutions and respecting national sovereignty as vital steps for sustaining economic growth on the continent.
The Importance of Stability for Economic Growth
“Economic development cannot be achieved in unstable nations,” Sisi remarked, highlighting the necessity for a stable environment where investors, manufacturers, and farmers feel secure to operate. The president’s comments reiterated that stability is not merely a luxury but a cornerstone for attracting investment and fostering economic progress. The event attracted around 1,500 stakeholders—including government officials, business leaders, and representatives from financial institutions—who convened to discuss strategies for advancing economic integration and development across Africa.
Sisi noted that Africa’s private sector plays a critical role, contributing over 70% to the continent’s Gross Domestic Product (GDP). He pointed out that approximately 85% of the transactions conducted by African businesses occur with foreign entities, indicating a significant reliance on outside markets. This, in turn, raises concern over the limited intra-African trade, which currently accounts for just about 18% of total trade on the continent. Sisi’s remarks highlighted the pressing need for enhanced regional cooperation to boost internal trade.
Supporting National Sovereignty and Peaceful Solutions
During his speech, Sisi called for a commitment to prioritizing peaceful resolutions to conflicts. He articulated a vision where security stems from reinforcing national states and their institutions while respecting their unity. The forum provided a platform for attendees to discuss the importance of good neighborly relations in fostering a cooperative spirit among African nations.
The president also addressed broader international challenges impacting Africa. He called for a world geared towards peace and stability, rather than one where African nations bear the brunt of global crises in which they play no part. He specifically referenced the ongoing energy crisis, which has exacerbated the challenges faced by African countries due to rising fuel prices and disruptions in supply chains.
The Future of the Alamein Africa Forum
The Alamein Africa Forum is endorsed to be held biannually in New Alamein, as per a resolution accepted during the African Union summit in Addis Ababa last February. The Egyptian government, in collaboration with the African Export-Import Bank and the African Union Development Agency, is orchestrating this forum, believing it to be a significant step toward enhancing collaboration between African nations.
Through discussions and initiatives aimed at fostering economic ties, the forum positions itself as a crucial venue for addressing Africa’s challenges and facilitating a cooperative path forward. President Sisi’s clarion call for prioritizing peace, stability, and the advancement of national capacities sets the tone for actionable strategies that could invigorate Africa’s potential for economic growth and resilience.