21.07.2015
Twenty-six African countries in Sharm El Sheik last 10 June signed the Treaty setting up the TFTA (Tripartite Free Trade Area), the single free trade market in southern and eastern Africa involving 600 million consumers and GDP of over 1,000 billion USD (900 billion euros). Customs tariffs and trade barriers will be eliminated from Cairo to Cape Town, ensuring impetus for infrastructural and industrial developments. The agreement - an extremely important step forwards in the economic integration of Africa - was signed during the Summit of Heads of State and Government of Countries in three regional blocs involved in negotiations for five years: the Common Market for Eastern and Southern Africa (Comesa), the Eastern African Community (Eac) and the Southern Africa Development Community (Sadc). The agreement must now be ratified by national parliaments; it is envisaged to come into force in 2017 but expectations in terms of effective results are already high: it is estimated that trade within Africa will reach 30% (currently 12% versus 70% between European countries) and will significantly increase the 'African share' of international trade (currently 2%). The continent will have better access to finance and the new business-friendly environment will attract even more investors.
Egypt, that among the signatories of the TFTA is considered to be one of the countries with the highest growth potential, is also proceeding with several major projects. Mounir Fakhry Abdel Nour, Minister of Trade and Industry, recently announced the creation of a new manufacturing district in Damietta, 15 km from the Mediterranean Sea and 200 km north of Cairo. A full-scale industrial citadel dedicated to the furniture sector will become home to 2,400 workshops and factories and create 40,000 direct jobs. In addition to that, Egyptian real estate company Palm Hills Developments has signed a contract with Madinet Nasr for Housing and Development (MNHD) for a mega residential project east of Cairo and not far from where New Cairo, the new administrative capital, is to be built. An area of 434,000 square meters will see the construction of 2,600-2,900 apartments; sales will begin in the last quarter of 2015: revenues are expected to be between 587.4 and 702.4 million USD.
Targeted meetings for doing business
250 foreign buyers from 40 countries - especially from Africa: Algeria, Angola, Botswana, Burundi, Cameroon, Congo, DRC, Ethiopia, Ghana, Djibouti, Kenya, Morocco, Mozambique, Namibia, Nigeria, Rwanda, South Africa, Tanzania, Tunisia, Uganda, ... - were all invited to the trade fair within the scope of the IBP (International Buyers Program) supported by the Egyptian Government.
Country Focus - Ethiopia and Angola
The program of the two events is further enhanced by two special Country Focus events dealing with Ethiopia (2 November 2015) and Angola (4 November 2015).
The construction sector in Ethiopia was the main beneficiary of the five-year Growth and Transformation Plan (GTP) 2010-2015: yet there are also many road infrastructure and power plant projects, for the most part financed by funds made available for cooperation by the World Bank and the EU, as well as the ubiquitous Chinese loans. Thanks to an average annual growth in GDP of 9%, Ethiopia is one of the African countries with the highest potential. In relation to the residential field, the Ministry for Urban Development has launched a housing plan that, in the capital Addis Ababa alone, envisages the construction of homes for 600,000 people. Many existing hospitals in the country will be restructured (preferred over new buildings).
The building sector in Angola - which is worth about 148 billion USD - is also very dynamic today: thanks to income from the oil industry and stable growth in its GDP, the country can now focus on its infrastructures. Luanda is literally an open-air building site: skyscrapers, residential areas, shopping malls and luxury hotels are all being built in line with an urban development plan that some dare to compare with the Dubai's one. Tourism is another growing sector: and to promote this sector, the Government recently set up a new strategy for offering tourist services that focuses initially on domestic demand and will then be extended to the African market in the SADC region and ensure that Angola is included in international tourist routes.
meet ITALY: the event dedicated to Italian Style
The collateral events alongside MS Marmomacc + Samoter Africa & Middle East and Projex Africa also include a project named meet ITALY - The Meeting Point of Style & Design, a concept exhibition dedicated to Italian design. The project will ensure excellent visibility for Italian companies that express the best of "Made in Italy" held in such high regard (to the point of being copied) around the world. The meet ITALY area - which will become a kind of square or forum area - will be set up in the Central Pavilion of the trade fair and will promote Italy as a whole, its artistic heritage, its touristic potential and, of course, its business excellence: Italian creativity has set its roots in centuries of history; continuous research into details and quality craftsmanship today combines with a focus on new technologies and sustainability.
MS Marmomacc + Samoter Africa & Middle East and Projex Africa are 2 trade fairs scheduled in Cairo from 2 to 5 November 2015 and dedicated to excellence in the sectors of marble, natural stone, construction machinery, innovative materials and sustainable systems for the building field. The events will occupy 4 halls for a total exhibit area of 11,000 sq.m.
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