The Arab Africa Trade Bridges (AATB) Program is pleased to announce the successful conclusion of its 4th Board of Governors (BoG) Meetings, which took place alongside the Tunisia Africa Business Meeting (TABM) from 2 July 2024, in Tunis, Tunisia. This event signifies a significant step forward in enhancing trade, economic cooperation, and regional integration between Africa and the Arab world.
The 11th Executive Committee Meeting held on 1st July featured discussions on important topics such as agricultural sustainability, food security, and the economic empowerment of Arab and African nations. Key stakeholders and representatives from member institutions such as the African Export-Import Bank (Afreximbank), the Islamic Development Bank (IsDB), the International Islamic Trade Finance Corporation (ITFC), Islamic Corporation for Investment and Export Credit (ICIEC), Islamic Corporation for the Development of the Private Sector (ICD), and Arab Bank for Economic Development in Africa (BADEA) participated in the meeting.
Mrs. Feryel Ouerghi Sebai, Minister of Economy and Planning, Tunisia, emphasized the significance of the “Arab Africa Trade Bridges” program as a mechanism to strengthen economic relations between Arab and African countries. She expressed Tunisia’s commitment to actively contribute to joint efforts aimed at enhancing mutual interests for all member countries. The Minister highlighted the wealth of resources and capabilities in Arab and African nations that enable them to establish valuable economic, trade, and investment partnerships across various sectors, noting the effectiveness of the AATB Program in supporting economic cooperation among member states.
Prof. Benedict Oramah, President and Chairman of the Board of Afreximbank and Chairman of the AATB Executive Committee, highlighted the evolving cooperation for mutual benefit in Arab-Africa economic relations. He underscored the importance of the AATB program in expanding trade and investment relations between the two regions and providing a platform for growth in various sectors. Prof. Oramah emphasized the significance of the Program in the context of the AfCFTA, which has created a vast integrated market with significant economic potential.
Eng. Hani Salem Sonbol, CEO of ITFC and Acting CEO of ICD, and Secretary General of AATB Program, discussed the cultural and economic ties between African and Arab regions and the need to strengthen and revive these connections. He urged all countries to leverage the benefits offered by the AATB Program and called for adequate resources and support to transform the program into a regional institution.
During the event, several agreements were signed to support sustainable economic growth and resilience in both regions, including a Letter of Intent for Egypt’s Membership Renewal in the AATB Program, an Agreement to Support the Development of the Common African Agro-Parks (CAAPs) Programme, and a Memorandum of Cooperation between the Tunisian Agency for Technical Cooperation (ATCT) and ITFC.
The event also featured a panel discussion on “Bridging the Gap to Support Food Security,” highlighting the Food Security Programme established by the Arab-Africa Trade Bridges Program in 2023. This program aims to address food security challenges in the Arab and African region by enhancing agricultural productivity and ensuring sustainable food systems.
The AATB Program focuses on trade, investment, insurance, and infrastructure to enhance economic cooperation, address challenges like climate change and food security, and promote collaboration among member countries. The program aims to improve capacity-building efforts, enhance access to financing for SMEs, and encourage innovation and technology transfer through strategic partnerships and global initiatives.
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About the Arab-Africa Trade Bridges (AATB) Program:
The AATB Program is a multi-donor, multi-country, and multi-organizations program supported by Afreximbank, BADEA, IsDB, ITFC, ICIEC, and ICD. The Program aims to promote and increase trade and investment flows between African and Arab OIC member countries, provide trade finance and export credit insurance, and enhance capacity-building tools related to trade in key sectors such as agriculture, health, infrastructure, and technology.