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Addis Ababa, 08 July 2021 – The African Continental Free Trade Area (AfCFTA) could add at least 32 new trade partners to Egypt and help diversify and upgrade the country’s economy. To fully benefit from the AfCFTA, Egypt needs to update its policy approach for economic transformation, says the country’s Production Transformation Policy Review( PTPR) released today.   An economic heavyweight Egypt is among Africa’s economic heavyweights. Although Africa is a small industrial player, accounting for only 2% of world manufacturing, Egypt is the continent’s top manufacturing hub, accounting for 22% of its value added in this sector. The country’s fast-growing economy has been increasingly attracting international investors, who are choosing Egypt to produce for the African continent and the Middle East. Between 2017 and 2020, Egypt attracted the highest percentage of foreign direct investment (FDI) in electronics and electrical manufacturing in Africa (21% of the total nu

Addis ababaPolicyreview productivetransformationAnnalisa primiNational structural reformprogrammeDevelopment divisionDevelopment centreIndustrial modernization centreNational food safety authorityDevelopment centre of the organisation for economicUn industrial development organizationUnited nations economic commission for africaTechnology development fundAfrican continental free trade areaProduction transformation policy reviewTechnology developmentEconomic cooperation