Egypt has said it is putting all its effort and expertise in the oil and natural gas sectors to serve African countries. Egyptian Minister Sameh Fahmi made the promise whilst addressing the first conference of oil and energy ministers of the African Union member states.
Fahmi said that Egyptian President Hosni Mubarak is keen on boosting cooperation with other African states to offer facilities, aid and services for the continent’s countries whenever they were needed.
The two-day conference, was co-organized by the African Union Commission, the African Bank for Development and the Egyptian Oil Ministry. The conference finished with the adoption of a Cairo Declaration which calls for the establishment of an African oil fund to deal with the consequences of oil price hikes on the African economies.