A free trade agreement has the potential to transform the continent, World Bank President Jim Yong Kim said on Wednesday in a speech at the Tripartite Summit in Sharm El-Sheikh, during a two-day visit to Egypt.“My hope is that you find a path to finalize a trade agreement that presents new economic opportunities for the poor and vulnerable to lead better lives, Kim said.

This is an important moment toward a brighter economic future for the continent, connecting Cairo to Cape Town and much in-between will integrate Africa more completely into the global economy, he added.

He expressed strong commitment to the Middle East and Africa regions, praising the 26 member countries of the East African Community (EAC), the Common Market for Eastern and Southern Africa (COMESA), and the Southern African Development Community (SADC) for moving toward establishing a Tripartite Free Trade Area, the largest in Africa.

“In Africa and the Middle East regions, we provided nearly $20 billion in assistance in 2014, and we’re on track to provide similar levels this year, he said.

Kim met with President Abdel Fattah El-Sisi and government officials to discuss Egypt’s key role in regional economic development, and how the Bank can best support the country in achieving shared growth, economic inclusion, and social justice to address the needs of the poor and vulnerable, especially in lagging regions.

Source: Star Africa

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