Egyptian President Abdel-Fattah el-Sissi called on African nations Saturday to pursue peaceful solutions to conflicts, reinforce state institutions and uphold national sovereignty, arguing that stability is a prerequisite for sustainable economic growth.
“Economic development cannot be built in unstable countries, and stability is not a luxury but a fundamental pillar sought by investors, manufacturers and farmers so they can operate in a safe environment,” el-Sissi said in his opening address to the Alamein Africa Forum.
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The three-day gathering opened Friday in New Alamein, on Egypt’s northern coast, bringing together about 1,500 government officials, business executives, investors and financial institution representatives from across Africa. Discussions are centered on economic development, investment and deeper integration across the continent.
“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,” el-Sissi said.
He described Africa’s private sector as the primary engine of the continent’s economies, saying it accounts for more than 70% of gross domestic product. Yet roughly 85% of private-sector transactions involve companies outside Africa, he added.
Intra-African trade has remained limited despite trade agreements and preferential arrangements among African countries, representing only about 18% of the continent’s total trade in recent years, according to el-Sissi.
Turning to global affairs, the Egyptian president 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 as an example, citing the effect of higher fuel and fertilizer prices, along with disruptions to supply and shipping chains, on African economies.
The African Union summit in Addis Ababa approved plans last February 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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