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Egypt, Sudan study implementing joint projects - Daily News Egypt

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Egypt, Sudan study implementing joint projects

Nassar pointed out need to move from bilateral cooperation towards continental mutual endeavours

Egyptian Minister of Trade and Industry Amr Nassar indicated the possibility of implementing joint Egyptian-Sudanese industrial projects in both countries or in a third African country in fields of transport and logistics, infrastructure and electricity, megaprojects, food, engineering and leather industries.

During his participation at the second meeting of the Egyptian-Sudanese Business Council in Khartoum on Wednesday, Nassar said that bilateral relations between the two countries have witnessed intensive momentum in recent times at the official and business levels, which contributed to the establishment of a new phase of the joint relations between Egypt and Sudan.

Nassar stressed the importance of enhancing the role of the Egyptian and Sudanese private sectors to play an active role in developing foreign trade movement and attracting more Arab and foreign capital to invest in both countries, pointing out the need to move from bilateral cooperation towards continental joint work.

Trade relations between Egypt and Sudan are currently witnessing remarkable development, remarked Nassar. The volume of trade exchange between the two countries during the 2017 reached about $554m. Furthermore, the volume of trade exchange between both countries during the first eight months of this year reached $364m. Meanwhile, Egyptian exports reached $222m, and $142m of imports.

Egyptian exports include building materials, chemical products, fertilizers, pharmaceutical and medical industries, food industries, engineering and electronic goods, while meat and agricultural products are the most important Sudanese exports to the Egyptian market, highlighted Nassar.

Sudanese investments in Egypt are estimated at $81m distributed over 271 companies operating in the industrial, finance, and service sectors in addition to some investments in the agricultural, construction and tourism sectors. Meanwhile, the value of Egyptian investments in Sudan during the period from 2000 to 2013 registered at about $799m, distributed over 78 industrial, agricultural and service projects, explained Nassar.

Topics: Egypt Sudan

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