Gab-Allah added that the new Egyptian investment law will improve the investment climate in the country.
In a statement on Tuesday, Egyptian Trade and Industry Ministry said that it will elevate the relations among the member states to the level of comprehensive strategic partnership and will put Africa on the global economy map.
"The agreement will contribute to the development of the intra-Africa trade movements, increasing the industrial growth rates and achieving technological development," the statement added.
The agreement will also contribute to the development of the infrastructure, the movement of people and the transfer of technical expertise, energy, IT and communication which are important for the sustainable development in Africa, Gab-Allah said.
During the meeting with a delegation from the African Union Commission on Monday, Egyptian Prime Minister Mostafa Madbouli said that President Abdel-Fattah al-Sisi gave priority to the AfCFTA agreement under Egypt's current chairmanship of the African Union.
The prime minister stressed that Egypt's capabilities, including logistic and infrastructure, enable it to be the seat of the head office of the agreement.
He added that Egypt was one of the first countries that signed the agreement which is due to take effect within days after 22 countries have ratified it so far.
The agreement seeks to eliminate tariff and non-tariff barriers to the member countries' trade in goods and services with the aim of reducing prices and achieving sustainable development on the continent, Madbouli said.
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