Arab Africa Trade Bridges pledges enhanced trade, cooperation

The Arab Africa Trade Bridges (AATB) programme has concluded its 4th Board of Governors (BoG) meetings, with the aim to advancing trade, economic cooperation, and regional integration between Africa and the Arab world.

The meetings were held alongside with the Tunisia Africa Business Meeting (TABM) from 2 July 2024, in Tunis, Tunisia. This event marks a milestone in the 11th Executive Committee Meeting which was held on 1st July featured high-level sessions focused on areas such as agricultural sustainability, food security and the economic empowerment of Arab and African nations.

The meeting drew participation from key stakeholders and representatives of member institutions, including 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 for the Development of the Private Sector (ICD) and Arab Bank for Economic Development in Africa (BADEA).

Speaking, Mrs. Feryel Ouerghi Sebai, Minister of Economy and Planning, Tunisia, stressed the importance of the “Arab Africa Trade Bridges” program as a renewed mechanism to consolidate economic relations between Arab and African countries, highlighting the Tunisian government’s enthusiasm to contribute effectively and actively to any joint work aimed at further linking interests for the benefit of all member countries. The Minister indicated that Arab and African countries are rich in resources and capabilities that qualify them to establish economic, trade, and investment partnerships in many sectors, pointing out that the AATB Program is an effective mechanism in supporting economic cooperation between member states.

During his welcome remarks, President and Chairman of the Board of Afreximbank and Chairman of the AATB Executive Committee said, Prof. Benedict Oramah, “In recent years, a new form of cooperation for mutual benefit has ushered in a new era in Arab-Africa economic relations.

The AATB program has further expanded these relations and provided a platform for growing trade and investment relations between the two regions. With its focus on Trade, Investment, Insurance, and Infrastructure, the Program provides a platform for enhancing this expansion and deepening of relations.”