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Egyptian investments in Sudan total $7.8 billion: official

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March 18, 2014 (KHARTOUM) – The volume of Egyptian investments in Sudan reached $7.8 billion spread among 230 ventures, a visiting official from Cairo said today.

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Egyptian minister of Trade, Investment and Industry Munir Fakhri Abdel-Nur

The Egyptian minister of Trade, Investment and Industry Munir Fakhri Abdel-Nur who addressed the opening session of the Sudanese-Egyptian Business Forum on Tuesday called for joint cooperation between the two countries to bring about an integration model that achieves the aspirations of the two sides.

Abdel-Nur noted the growth of trade between the two countries which in 2013 amounted to about $340 million adding that Cairo, in the light of the potential available in both countries, seeks to complete joint investment projects which were previously discussed to boost trade.

The Egyptian minister underscored the desire of the Egyptian businessmen to invest more in Sudan and cooperate in the agriculture sector, especially in the areas of food security. He also pointed to the importance of expediting the completion of the Halfa - Ishket road on the borders saying it will increase bilateral trade and facilitate the movement of people, goods, services and capital.

"We emphasize the importance of activating the proposal for the establishment of an Egyptian industrial free zone in Khartoum" he added.

The Sudanese Minister of Industry al-Samih al-Sideeg for his part called for examining trade obstacles facing the two countries and stressed that they welcome and are ready to facilitate Egyptian investments.

He expressed hope that the Egyptian trade delegation’s visit to Sudan will mark a turning point in the path of economic relations between the two brotherly countries and underscored the importance of integrating efforts to maximize investments between the two countries and doubling the size of commercial exchanges and to benefit from the Egyptian expertise in the sectors of industry, agriculture and work on joint investment partnerships.

(ST)

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