African Reserves

Africa: US-Africa Business Summit 2022 – a successful event (Ministry)

Rabat — The 14th United States-Africa Business Summit 2022, which took place from July 19 to 22 in Marrakech, was a success, according to the Ministry of Industry and Commerce.

The participants in this summit, organized under the High Patronage of HM King Mohammed VI, were able to discuss for 3 days around the opportunities for strengthening industrial links, investment and trade between our continent and the United States, specifies the ministry in a statement.

This event brought together senior US and African government officials from more than 50 countries, 6 FMs and more than 20 ministers representing different sectors, as well as representatives from US and African government agencies, investment and pension funds and international and regional organizations.

The summit brought together more than 1,500 participants, 80% of whom were from the major American and African business communities and 40% were women.

The event was divided into 37 sessions dealing with issues of health and food sovereignty, innovation, new technologies, energy and infrastructure, topics covered by more than 200 national and African media representatives, a indicated the same source, according to the same source.

This event, which brought together more than 450 American economic operators including Pfizer, Visa, Citi, Procter & Gamble, Chevron, Coca Cola, Google and major African groups, made more than 5,000 connections with many commercial contracts signed.

This summit was an opportunity for Morocco to consolidate its role as a bridge between Africa and the United States and to encourage the construction of a forward-looking African economy, drawing its strength from its integration into the global system and international value chains.

The closing plenary of the event, organized under the theme “Building the future together”, was an opportunity to reflect collectively on the future of a promising continent at all levels.

On this occasion, the Minister of Industry and Trade, Ryad Mezzour, underlined the vision of His Majesty the King by adopting “a coherent and integrated policy towards our African brothers, based on a joint investment of wealth, human development and the strengthening of economic cooperation”. “

Despite a difficult context full of challenges and marked by the reconfiguration of the international economy, Africa has all the assets to be an active player and better integrate into global value and processing chains.

African companies have a key role to play and are called upon to take business risks to seize the opportunities presented by a larger market by expanding their manufacturing base.

“Our priorities as African countries must be to put sovereignty at the heart of all sectoral strategies and make it a priority for securing supply and employment. We must commit to encouraging local manufacturing, creating strategic reserves for certain key products and diversifying sources. energy and food supply,” said Mezzour.