4th African Eco-Trade ends with more than $48.3 bln in deals

The fourth edition of the Intra African Trade Fair saw the participation of 49 African and 21 non-African countries with their own pavilions, compared to 48 African and 17 non-African countries that took part in the 2023 edition.

 

Jakarta (Indonesia Window) – The fourth edition of the Intra African Trade Fair, held in Algeria from 4 to 10 September, culminated in the signing of agreements worth more than 48.3 billion US dollars (USD).

Of the value, Algeria’s share was 11.4 billion USD, the organisers said during the closing ceremony of the event, Wednesday at the Palais des Expositions (Pine Sea, Algiers).

The outcome of the event, presented by the Director of Trade Facilitation and Investment Promotion at the African Export-Import Bank (Afreximbank), Ginmore Zanamoy, showed that the fourth edition managed to exceed the target value of deals (44 billion USD), reaching 48.3 billion USD, compared to 43.77 billion USD in the third edition organised in 2023 in Egypt.

Algeria accounted for 11.4 billion USD, representing 23.6 per cent of the total deals signed during the fourth edition, according to the outcome.

The number of buyers recorded a record level compared to previous editions, reaching 987 buyers, while the target set by the organizers was 750 buyers, according to the same source.

This edition broke all records, as the final number of exhibitors reached 2148 exhibitors, distributed between 1923 exhibitors who participated in person and 225 exhibitors who took part virtually, while the previous edition did not exceed 1939 exhibitors, according to organizers’ figures.

The fourth edition of the Intra African Trade Fair also saw the participation of 49 African and 21 non-African countries with their own pavilions, compared to 48 African and 17 non-African countries that took part in the 2023 edition.

In terms of delegations, the actual number of countries participating through their delegations reached 132 countries in the Algiers edition, while in the previous event, delegations from 130 countries participated.

In terms of visitors, the final number of guests was more than three times more than the 35,000 visitors targeted by the organizers, as 112476 visitors were registered, divided into 60650 in-person and 51,826 virtually.

The number of visitors far exceeds that of the previous edition, which recorded 28,282 visitors, said Zanamoy, adding that the the fourt edition in Algeria was also characterised by a record participation

of 14 heads of state, 20 heads of state and government as well as six of their representatives, compared to eight in the previous edition.

The closing ceremony was presided over by the Director of the Office of the President of the Republic of Algeria, Boualem Boualem, in the presence of the Advisor to the President of the Republic of Algeria in charge of the General Directorate of Communication, Kamel Sidi Said, the governor of the fourth edition of the fair, Larbi Latrache, as well as several members of the government and high-ranking state officials.

The Intra-African Trade Fair, which concluded Wednesday in Algiers, was an ‘exceptional’ success, amounting to ‘real excellence’ and even ‘exceeding expectations’, according to the organizers, confirmed by the volume of agreements signed and the quality of the discussions, a success that was evident from the first day of the fair, which was inaugurated by President of the Republic of Algeria Abdelmadjid Tebboune with a speech full of strong messages that enshrine Algeria’s efforts to promote African integration at all levels.

Some of the highlights of the Algiers edition (10-4 September):

– The exhibition culminated in the signing of a huge number of agreements worth more than 48.3 billion USD, of which Algeria accounted for almost a quarter (23.6 per cent), equivalent to

11.4 billion USD, an amount that exceeded what was achieved during the previous editions.

– The Algerian edition witnessed record numbers in terms of participation: 14 Heads of State and Government and six of their representatives, 2148 exhibitors, 132 countries participating through delegations, 70 countries participating through pavilions (49 African and 21 from outside the continent), 112476 visitors, including more than 60,000 in person and about 52,000 virtually.

– The opening session was marked by a strong opening speech by President Abdelmadjid Tebboune, who urged African countries to unite their efforts to enable the continent to contribute to international economic decision-making and overcome its marginalization, stressing that ‘Africa is the future’.

– The President of Algeria used the occasion to denounce the ‘massacre and genocide’ taking place in Palestine and Gaza in particular, stressing that any solution outside the framework of establishing a Palestinian state on the 1967 borders ‘will be a waste of time’.

– The opening ceremony was marked by the presence of African leaders, including heads of state and government and African dignitaries, who praised the pioneering role of the President of the Republic, Maged Tebboune, in promoting the economic integration of the continent.

– The participation of the Sahrawi Arab Democratic Republic in the event was seen as a confirmation that the Sahrawi state is an irreversible African reality.

– An interactive session was organiszd during the opening session dedicated to the African Free Trade Zone (Zelikav), which was supervised by President of Algeria Abdelmadjid Tebboune, in the presence of the leaders of ten participating countries.

– Widespread African praise for Algeria’s organization of the fourth edition and its role in the development of the continent, including former Nigerian President and Chairman of the Advisory Board of the exhibition, Olusegun Obasanjo, who said that Algeria has endeavored to make this edition ‘the most successful’ since the launch of the event in2018, President of the African Export-Import Bank (Afreximbank), Benedict Orama, who affirmed that Algeria plays a pioneering role in African integration and the AU Commission representative said that the exhibition reflects Algeria’s position as a beacon of African unity and a lever for economic integration on the continent.

The organization of the ‘African Diaspora Day’ under the supervision of Acting Prime Minister Sefi Gharib, mandated by the President of the Republic, allowed to strengthen the connection between the African diaspora and people of African origin with their mother continent, emphasizing the crucial importance of the contribution of this group to the continent’s development, while formulating innovative practical proposals on the best ways to enhance their role and contributions in this endeavor.

A series of African meetings, such as the mini-summit of African Investment Promotion Agencies, bilateral working meetings between Algerian and African ministers during which they agreed to revive joint cooperation in several fields, as well as the organization of several seminars, sessions and lectures on various development issues on the continent.

– The event witnessed several important announcements, including the order of the President of the Republic to open a direct air route to the Chadian capital N’Djamena, the official launch, by the decision of the President of the Republic, of a fund to finance start-ups and innovative youth at the African level, as well as the launch of the African Trading and Distribution Company.

Reporting by Indonesia Window