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Egypt, Sudan agree to utilise mineral resources for industrial purposes - Daily News Egypt

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Egypt, Sudan agree to utilise mineral resources for industrial purposes

They discuss removing obstacles that hinder flow of goods between two countries such as customs, taxes


Egypt’s Minister of Trade and Industry Nevine Gamea met with Sudan’s Minister of Energy and Mining, Khairy Abdel Rahman, to discuss enhancing joint cooperation between the two countries in adding value to mineral resources.

Gamea said that both Egypt and Sudan are rich in large quantities of raw minerals, which should be maximised through supporting local manufacturing to increase their value.

For his part, Abdel Rahman welcomed the initiation of joint cooperation in this field with Egypt. He added that the two countries have capabilities that qualify them as a regional and international centre for energy and mining.

During her recent four-day visit to Sudan, Gamea also met with the country’s Minister of Finance Heba Mohammad Ali to discuss cooperation in all economic fields.

Gamea said that the meeting tackled the priority investment projects for Sudan during the coming period, as well as Egyptian participation in developing the Sudanese economy, especially after the lifting of international sanctions.

The two ministers also discussed the importance of removing trade obstacles that stand as a barrier to the flow of goods between the two countries. This particularly relates to those goods on which a heavy customs tax is imposed.

Gamea pointed out that Egypt could help Sudan in terms of formulating an industrial investment map and benefiting from the Egyptian experience in this regard. She noted that there is an opportunity to enhance joint cooperation between the two countries in establishing and managing industrial complexes and free zones.

Furthermore, the Sudanese Minister of Finance affirmed that her country is taking vigorous steps towards achieving comprehensive and sustainable development. This will be carried out through the implementation of a development plan that includes many infrastructure projects and expansion in productive areas with high value-added.

This comes in addition to the Sudanese government’s current preparations to issue a new investment law to attract international companies, who will invest in the promising Sudanese market.

Regarding the current challenges facing trade movement between the two countries, Ali noted that she will give this matter great attention. As part of this, she will take part in discussions and reviews of her country’s customs provisions imposed on some commodities.

It is expected that this move will help reach a comprehensive vision that contributes to removing all restrictions and achieving a boom in rates of trade exchange between Egypt and Sudan.

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https://dailyfeed.dailynewsegypt.com/2021/01/23/egypt-sudan-agree-to-utilise-mineral-resources-for-industrial-purposes/
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