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Egyptian President Abdel Fattah el-Sisi called Saturday for peaceful solutions to conflicts across Africa, stronger state institutions and respect for national sovereignty, saying stability is essential for economic development and investment.
Speaking at the Alamein Africa Forum in New Alamein, Sisi said economic growth is not possible in unstable countries.
“Stability is not a luxury but a fundamental pillar sought by investors, manufacturers and farmers so they can operate in a safe environment,” he said.
Sisi said security across Africa begins with supporting national institutions, respecting the unity and sovereignty of states, prioritizing peaceful solutions to crises and upholding good-neighborly relations.
The three-day forum, which opened Friday, brings together 1,500 officials, business leaders, investors and representatives of financial institutions from across Africa for discussions on economic development and continental integration.
Sisi said Africa's private sector generates more than 70% of the continent's gross domestic product.
However, about 85% of private-sector transactions are conducted with companies outside Africa, he said.
Despite trade agreements and preferential arrangements among African countries, intra-African trade has accounted for only about 18% of the continent's total trade in recent years, according to Sisi.
Sisi said Africa seeks “a world characterized by peace and stability” rather than being forced to bear the consequences of international crises in which it was not involved.
He cited the current energy crisis, pointing to higher fuel and fertilizer prices and disruptions to supply and shipping chains affecting African countries.
The African Union summit in Addis Ababa approved in February a plan to hold the Alamein Africa Forum every two years in New Alamein.
Egypt is organizing the forum in cooperation with the African Export-Import Bank and the African Union Development Agency.
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