Minister of Investment and Foreign Trade Opens the Egyptian–Sudanese Business Forum

Minister of Investment and Foreign Trade Opens the Egyptian–Sudanese Business Forum

El-Khatib: The importance of convening the Committee lies in accelerating work pace and implementing the economic objectives of the two brotherly countries. Sudanese Minister of Industry and Trade: The need to develop trade and investment relations and enhance bilateral trade. Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, and Ms. Mahasen Ali Yagoub, Minister of Industry and Trade of the Republic of Sudan, co-chaired on Monday in Cairo the meetings of the Egyptian-Sudanese Joint Trade and Industry Committee, with the participation of a large number of officials from both countries. El-Khatib emphasized the strong fraternal ties between the two brotherly nations and their shared commitment to strengthening economic relations in line with their mutual aspirations. He reaffirmed Egypt’s commitment to supporting Sudan during its economic recovery phase through strategic partnerships and the enhancement of trade and investment ties. He stressed the importance of the Committee’s regular convening, as well as continuous communication and coordination between the Egyptian and Sudanese sides at both governmental and private-sector levels, in order to accelerate implementation and achieve the economic goals of both countries. For her part, Ms. Mahasen Ali Yagoub affirmed that the Committee’s meetings reflect the depth of relations between Egypt and Sudan and demonstrate the readiness of both countries to join forces and intensify joint efforts to achieve economic integration. She highlighted the necessity of developing trade and investment relations, enhancing bilateral trade, and exchanging expertise and training in a manner that reflects the close ties between the peoples of the Nile Valley and serves their shared interests. She also called for continued coordination to remove obstacles hindering the growth of bilateral trade in line with the significant potential of both countries. At the conclusion of the meeting, the two ministers signed the minutes of the Committee’s meetings, which included agreed-upon frameworks across several vital areas of mutual interest. Both sides praised the fruitful economic cooperation between Cairo and Khartoum and stressed the importance of strengthening joint efforts to increase bilateral trade volumes to match the aspirations of both countries and the available potential for integration. Bilateral trade volume reached approximately USD 1.15 billion in 2024, and both sides agreed to take all necessary measures to positively impact trade flows in a way that fulfills the ambitions of the two brotherly nations. The two sides agreed on a package of measures and executive programs to enhance integration across various sectors. These include the formation of a technical working group to promote trade exchange and identify priority commodity sectors, as well as studying a draft memorandum of understanding between the General Authority for Investment and Free Zones of Egypt and the National Investment Authority of Sudan to strengthen investment relations and transfer Egyptian expertise across investment fields, particularly in free zones management and the implementation of the one-stop-shop mechanism. Both parties agreed to grant priority to Egyptian companies in Sudan’s reconstruction projects. The Egyptian side also pledged to provide technical support to restart Sudanese factories affected by the war and to commence training Sudanese customs personnel starting January. The two sides further emphasized the need to harmonize technical standards for traded goods between the two countries to facilitate trade, and to establish a mechanism for mutual recognition of conformity certificates to ease the movement of goods. They also agreed to study measures and coordinate efforts to increase the number of trucks and buses crossing border points, mobilize financing to establish logistics zones along the shared border, and convene a conference for land-border crossing directors in January, in addition to enhancing coordination between border officials to address congestion challenges. Moreover, the two sides agreed to update the memorandum of understanding between the Central Bank of Egypt and the Central Bank of Sudan to include areas of governance, financial inclusion, anti-money laundering, and counter-terrorism financing. They also agreed to exchange expertise in agricultural and veterinary quarantine and epidemic control. Finally, the two sides agreed to continuously follow up on the implementation of the outcomes of the Joint Trade and Industry Committee and to exchange relevant reports. They also agreed to hold the Committee’s meetings on a regular basis, with the next session scheduled to take place in Khartoum during the first half of 2027.