The Intra-African Trade Fair (IATF 2018) is expected to provide access to $25 billion in trade finance deals, its organisers have said.
The event which is being organised by Afreximbank in collaboration with the African Union Commission in Cairo, Egypt, next month, is expected to draw more than 70,000 visitors.
According to Afreximbank, More than 70,000 visitors are expected at the IATF 2018, which will provide exhibitors a platform to showcase their goods and services to buyers and sellers and offer opportunities for business-to-business exchanges. The Trade Fair will also provide access to $25 billion in trade finance for deals concluded at the event.
“We are encouraged by this resounding response and support received for the inaugural IATF,” President of Afreximbank, Prof. Benedict Oramah said, adding, “we are expecting international exhibitors and visitors from as far afield as China, Russia and Indonesia.
“With the overwhelming response to the trade fair, buyers and sellers will be spoilt for choice of the goods and services that will be on show over the seven days,” he stated, pointing out that exhibitors will be bringing the best that their countries have to offer.
Meanwhile, exhibitor registrations for the fair has reached 1,054, surpassing the target of 1,000 exhibitors set by the organisers.
Afreximbank said the registered exhibitors come from 41 countries, representing diverse sectors and industries, including agriculture, automotive, information and communication technology, construction, logistics, healthcare, pharmaceuticals, clothing and textiles, energy and power and entertainment.
Running alongside the trade fair will be the IATF 2018 Conference, which will address issues relating to trade facilitation, infrastructure and payments.
The conference will identify key trade facilitation challenges, including standards, customs and transport-related non-tariff barriers that are affecting Intra-African trade and will explore practical ways of collaboration to address them. The conference will also showcase intra-African trade value-chains and opportunities for developing and deepening them.
As part of the trade fair implementation, Afreximbank has launched a Virtual Trade Fair (VTF) to provide continuity after the biennial IATF. Businesses that register on the VTF can exhibit their goods and services to a global audience of buyers and market players and to IATF participants. The VTF allows traders to conduct business-to-business deals, exchange market information and explore business relationships in African and global value chains during and after the IATF without necessarily being at the trade fair.
The Africa Trade Policy Centre; Afrochampions Initiative; International Trade Centre; and Pan-African Chamber of Commerce and Industry are partnering in the trade fair.