CAIRO: Egypt and Sudan agreed Sunday setting a number of agricultural free trade zones in the upcoming period along and opening an international road between both countries, Mubasher reported.
The agreements will boost mutual cooperation, encourage investment, and exploit the offered investment opportunities in the upcoming month.
During the meeting, Egypt’s Minister of Investment Ashraf Salman agreed with his Sudanese counterpart Mustafa Osman Ismail on holding a joint investment forum every six months. Both officials will then discuss the allowable investment opportunities, removing investment obstacles, and presenting facilities.
An international road would be significant to connect Egypt not only with Sudan but also with the Common Market for Eastern and Southern Africa (COMESA) countries. It would facilitate goods transportation, encourage mutual cooperation, and help Egypt fulfill its investments in African countries, Ismail said.
Bus tickets and vehicle fairs on the international roads will be available at affordable prices to reduce the cost of travel to Egypt, compared to air travel.
Ismail previously praised Egyptian and Sudanese relations over the past few years and said the total signed agreements for Egyptian investments in Sudan amounted to $8.7 billion from 2000-2014, MENA reported in June.
Of the signed investment agreement, only $1 billion were turned into actual investments and Ismail hoped the remaining $7 billion in agreements can be executed.
Salman agreed to hold technical support courses for Sudanese workers, especially for running and managing the free trade zones in the upcoming period.
Egypt’s Ministry of Investment will deliver a mission to Sudan soon to raise the current two free trade zones efficiency, remove obstacles, and meet its needs.