Egyptian President Abdel Fattah al-Sisi has called on African nations to resolve conflicts through peaceful means, reinforce state institutions and uphold national sovereignty, arguing that stability is a prerequisite for economic growth.
“Economic development cannot be built in unstable countries,” Sisi said Saturday in his opening address to the Alamein Africa Forum. “Stability is not a luxury but a fundamental pillar sought by investors, manufacturers and farmers so they can operate in a safe environment.”
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The three-day forum opened Friday in New Alamein, on Egypt’s northern coast.
“Across our African continent, we fully understand that security begins with supporting the national state and its institutions, respecting its unity and sovereignty, prioritizing peaceful solutions to conflicts and crises, and upholding the principle of good neighborliness,” Sisi said.
Around 1,500 government officials, business executives, investors and financial institution representatives from across Africa are attending the gathering. Talks are centered on economic development, investment and efforts to deepen integration across the continent.
Sisi described Africa’s private sector as the principal engine of national economies, saying it accounts for more than 70% of the continent’s gross domestic product.
Yet the sector remains heavily reliant on markets beyond Africa. Approximately 85% of transactions conducted by African private companies involve businesses outside the continent, he said.
Sisi also noted that trade between African countries has remained limited despite existing trade agreements and preferential arrangements. Intra-African commerce has represented only about 18% of the continent’s total trade in recent years, according to the Egyptian president.
Turning to global affairs, Sisi said Africa wants “a world characterized by peace and stability, rather than being made to bear the consequences of global crises in which it was not a party but whose negative repercussions it suffers.”
He pointed to the current energy crisis, saying higher fuel and fertilizer costs, along with disruptions to supply and shipping networks, have placed additional pressure on African economies.
The African Union summit in Addis Ababa approved plans last February for the Alamein Africa Forum to take place every two years in New Alamein.
Egypt is hosting the event in cooperation with the African Export-Import Bank and the African Union Development Agency.
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