Cairo, 4th March 2019 – The Association of the Mediterranean Chambers of Commerce and Industry (ASCAME) and the Union of African Chambers of Commerce, Industry, Agriculture and Professions (UACCIAP) signed a Memorandum of Understanding in the framework of the 4th Egypt Investment Forum, which took place from 2nd to 4th March 2019 in Cairo, Egypt.

The two institutions recognized their shared commitment to creating more opportunities in trade and investment for their member businesses at international level so as to further and deepen the economic and trade relations between two regions. Among the discussed collaboration points, ASCAME and UACCIAP agreed to further recognize and establish friendly and cooperative relations, supporting the trade and investment promotion activities that the other party is engaged in, to establish the celebration of an annual working meeting, to set up a mechanism of information exchange, to organize mutual visits of business delegations, to set up a platform of business consultation and dialogue and to put into place a mechanism of coordination and business collaboration between two regions.

ASCAME welcomes this collaboration agreement and is ready to start working with UACCIAP to put in practice the agreed points for the benefit of the Mediterranean and African private sector.