Afreximbank meeting seeks to unlock Africa's trade potential

Source: Xinhua| 2017-06-28 02:58:49|Editor: huaxia
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KIGALI, June 27 (Xinhua) -- The 24th Annual General Meeting (AGM) of African Export-Import Bank (Afreximbank), Africa's trade finance bank due to open here on Wednesday is hoped to act as a catalyst to boost the African trade agenda.

More than 100 speakers, academics, and African and global trade development experts will discuss how to unlock Africa's trade potential, with insights and solutions for accelerating trade diversification.

Discussions of the events will be centered around trade as a catalyst for industrializing Africa, boosting intra-African trade for regional integration, expanding African trade in a world of rising protectionism.

"As many are grappling with the exit of international trade finance from the continent, intra-African trade is now an ultimate priority," Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said in a statement released Tuesday.

"There is an urgency to get the continent moving, and there is no better time than this AGM to discuss 'Impact 2021: Africa Transformed', our medium-term strategy to deliver on intra-African trade; industrialization; trade finance leadership and solid financial performance. We look forward to sharing this, and collaborating with all partners, to bring about the transformation that's required," he said.

The AGM activities will open with two days of seminars, followed on Friday by the meeting of the Afreximbank Advisory Group on Trade Finance and Export Development in Africa.

An investment forum and trade exhibition, hosted jointly by Afreximbank and the Rwandan Development Board will start from Friday to explore investment opportunities and deeper integration within the East African Community.

The exhibition will give regional business entities the opportunity to showcase their products and services. Prizes will be awarded to the best exhibitors.

The AGM activities will conclude on July 1 with the formal Annual General Meeting of Shareholders of the Bank.

A series of side events have been planned for the AGM, including a roundtable of intra-African trade champions, launch of the 2016 African Trade Report, an ECOBANK Africa-Africa Forum, and a session on Afreximbank's Central Bank Deposit Program.

Afreximbank was established in 1993 by the African governments, African private and institutional investors as well as non-African financial institutions and private investors for the purpose of financing, promoting and expanding intra-African and extra-African trade. Enditem