Intra-African Trade Fair 2018 ends on Dec 17 with USD 30 billion turnover

The first edition of the Intra-African Trade Fair (IATF) 2018 finally closed on Monday, December 17 in Egypt’s capital city Cairo. The turnover between companies participating in the trade fair is valued at USD 30 billion, thus it exceeded the expectations of the African Union (AU), promoter of the event.

This turnover results from the exchange and 7000 contacts established among the companies participating in the Intra-African Trade Fair 2018, which ran between December 11 and 17 in Egypt, said the CEO of the African Bank of Exports and Imports, Benedict Oramah.

The African bank manager who was speaking at the closing ceremony of the trade fair, said that the volume of business obtained, despite preliminary data, exceeded expectations of the organization, which provided for participation of 1000 exhibitors and such as the installation of 30 pavilions against 42, installed at the fair.

With this fair, it is expected to develop intra-African trade in the order of 22 per cent by 2021, surpassing the current framework of trade between Africans, which varies between 15 and 18 percent.

In this edition, Angola participated with 60 companies and 24 exhibitors, who considered positive the participation to the event, taking into account the number of contacts of partnerships obtained during eight days.

For Leonildo Simões, commercial manager of Angola Cables, Intra-African Trade Fair 2018 was a success, as it allowed the interaction and exchange of experiences between several companies.

With inputs from agency.