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Afro-Asian Economic Council Launches Initiative to Link Egypt, North Africa with Asia
Source: 5/4/2018

Head of the Afro-Asian Economic Council (AAEC) Tareq bin Eid Al Obeid launched a development initiative for linking Egypt and North African countries with the Asia’s Silk Road.

Al Obeid detailed at a press conference that the initiative strengthens Egypt’s position to become the most important land and maritime passageway worldwide.

He praised the role played by Egyptian President Abdel Fattah El Sisi to carry out development projects in Egypt, which has prompted AAEC to speed up the launch of this initiative.

Al Obeid noted that the initiative will attract investments ranging from $2 trillion to $4 trillion for Egypt and North African countries and contribute to developing several sectors in these regions.

He pointed out that he also met with Public Business Sector Minister Khaled Badawy, while the AAEC had a meeting with Egyptian Investment Minister Sahar Nasr to promote investments.

Al Obeid added that the initiative will create many job opportunities for Egyptians and increase movement in the Suez Canal.

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