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Thursday, 03 March 2022 16:28

Egypt: UNECE, AU discuss new technologies at Business Forum in Egypt

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To enhance sustainability in fashion and apparel value chains in Europe and Africa, partners attending the United Nations Economic Commission for Europe (UNECE) - African Union (AU) Business Forum in Egypt, discussed the need to introduce new cutting-edge technologies. The seventh Business Forum between UNECE and EU was attended by 15,000 experts, members of governments, international organizations and professionals who discussed on the need to strengthen the sustainability of the fashion and garment industry.

Their discussions revealed, currently worth $31 billion, the sub-Saharan African apparel and footwear industry is expected to grow 5 per cent until 2024. Both organizations agreed to implement blockchain, a strategy to establish business collaboration between Europe and Africa in sourcing raw materials and exporting African designs.

The Business Forum also signed a joint Europe-Africa Business Declaration, aimed at influencing policy-making and business activities, and conciliating concrete actions for a sustainable fashion and textile industry. This declaration includes respect for environmental, social and governance (ESG) criteria in the face of the challenges of African exports, which may entail costs related to the need to strengthen human resources, management capacities and technological skills.