Strengthening Trade Relations: Afreximbank President Lauds Productive Talks with President Tebboune

BY: Dr. Hana Saada

Algiers, Algeria | October 16th, 2024 — In a significant development for African commerce, Benedict Oramah, the President of the African Export-Import Bank (Afreximbank), expressed his satisfaction on Wednesday following fruitful discussions with Algerian President Abdelmadjid Tebboune in Algiers. The meetings underscored a mutual commitment to enhance trade transactions across the African continent, paving the way for increased economic collaboration among member states.

During a press conference after his audience with President Tebboune, Oramah characterized the talks as “productive,” emphasizing the necessity for concerted efforts to expand commercial activities and bolster investment in Africa. He specifically highlighted the potential for growth in sectors such as dairy trade, citing the example of a budding partnership between Uganda and Algeria. This initiative exemplifies the broader strategy aimed at fostering inter-African trade relationships, which are essential for the continent’s economic growth.

Both leaders acknowledged the importance of their collaboration in supporting trade exchanges among various African nations. Oramah projected a “promising future” for Algeria’s relationships with other African countries, reinforcing the bank’s dedication to facilitating these vital connections.

In this context, Oramah commended Algeria’s decision to host the Intra-African Trade Fair (IATF) scheduled for September 2025. This landmark event is anticipated to attract over 30,000 visitors and generate “millions of dollars in trade transactions and investments.” The fair represents a pivotal opportunity for African nations to showcase their products and foster direct business engagements, aligning with the continent’s vision for economic integration and sustainable development.

Oramah’s remarks reflect a growing recognition of Algeria’s strategic position within Africa, particularly in promoting economic diversification and strengthening ties among African economies. The discussions with President Tebboune mark a crucial step towards realizing these objectives, as both leaders commit to establishing a more interconnected and resilient economic landscape in Africa.

As the continent faces various challenges, including economic volatility and global market fluctuations, initiatives like the IATF and strengthened partnerships between nations like Algeria and Uganda are essential in driving Africa towards a path of self-sustaining growth and prosperity. The outcomes of these discussions promise to reshape the future of African trade, offering a beacon of hope for enhanced collaboration and mutual benefit among member states.

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