18 August 2012

East Africa: Minister of Foreign Trade Reviews With His Egyptian Counterpart Means of Bolstering Commercial Relations Between Sudan and Egypt

Cairo — The Minister of Foreign Trade Osman Omer Al-Sharif has reviewed with the Egyptian Minister of Industry and Commerce Hatim Salih means of consolidation of commercial relations between the two countries to commensurate with their capabilities and the strength of the relations between them.

The minister called for granting the private sector in the two countries greater role during the coming period by concentrating on the effective participation of businessmen in establishment of joint projects contribute to augmentation and development of the joint economic bonds.

The Egyptian Minister for Industry and Trade, meanwhile, said that the volume of trade did not commensurate with the size of the two countries and the strength of the relationship between them, the potentials available for each of them and the sincere desire of the two countries to strengthen the joint cooperation. He added: "We can drive the relations between the two countries to more than they are now and to achieve a more effective contribution of the private sector and companies in both countries under the umbrella and encouragement of the two governments."

The value of trade exchange between the two countries in 2010 reached 628 million dollars higher than the figure achieved in 2009 which was 607 million dollars, according to press statement by the former Egyptian Minister of International Cooperation, Fayza Abu Al-Naga at the beginning of last April in which she noted to a significant growth in investment relations between the two countries until the end of 2011 where the value of Egyptian investment agreements in Sudan amounted to $ 7.5 billion in 213 projects in the industrial and agricultural fields against investments estimated at 184 million dollars in 257 companies from the Sudanese in Egypt.

Two delegations from Sudan are scheduled to visit Egypt in the coming weeks to conduct consultations with Egyptian officials on facilitation of commercial exchange between the two countries. In addition to the reviewing of the most important problems and obstacles that prevent the flow of trade to work to remove them in coordination and cooperation between the officials in both Egypt and Sudan.

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