Egyptian-Sudanese Business Forum: A Step Towards Enhanced Economic Cooperation

The Egyptian-Sudanese Business Forum, chaired by Deputy Prime Minister Kamel Al-Wazir, focused on enhancing economic collaboration between Egypt and Sudan. The forum aimed to deepen industrial investments, strengthen trade, and explore mutual benefits amid regional challenges. Key officials highlighted existing transport networks and future projects to boost infrastructure and attract investments. Al-Wazir emphasized Egypt’s unwavering support for Sudan’s economic recovery and the importance of sustained cooperation for mutual prosperity.

The inaugural Egyptian-Sudanese Business Forum convened on Saturday, highlighting the significant potential for enhanced economic cooperation between Egypt and Sudan. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, inaugurated the forum, emphasizing the necessity of broadening industrial investment and trade to benefit both nations.

Al-Wazir stated the forum’s primary objective is to fortify existing cooperative frameworks across various sectors, ultimately increasing trade levels for the collective benefit of their peoples. He pointed out that deepening industrial investments would lead to job creation and spur technological advancements.

Held with notable endorsements, the forum attracted several high-ranking officials including Sudan’s Minister of Trade and Supply, Omar Bannafir, and Egypt’s Minister of Supply and Domestic Trade, Sherif Farouk. In his speech, Al-Wazir relayed greetings from President Abdel Fattah Al-Sisi, expressing hopes for a fruitful outcome from the discussions and engagements at the forum.

Highlighting Sudan and Egypt’s solid ties, Al-Wazir reiterated Egypt’s support for Sudan, especially amidst regional conflicts. He underscored the significance of creating new collaborative frameworks aimed at minimizing the effects of these conflicts, advocating for international cooperation in seeking solutions.

Al-Wazir reinforced Egypt’s commitment to regional economic stability and development while underscoring the importance of national unity in overcoming shared challenges. He elaborated on initiatives aimed at stimulating Sudan’s economic recovery, alongside the historical connections and interlinked transport networks between the two countries.

The minister outlined existing transport arteries connecting Egypt and Sudan, which include three significant land transport routes and future infrastructure projects aimed at enhancing connectivity. These projects aim to capitalize on mutual strengths and tackle shared challenges, thereby fostering industrial integration and partnerships.

Additionally, Al-Wazir remarked on the tremendous untapped potential for cooperation, emphasizing Egypt’s efforts to attract Sudanese investments through favorable conditions, various incentives, and institutional reforms that enhance investor procedures.

He emphasized the transportation sector’s role in driving economic integration, detailing Egypt’s initiatives to establish itself as a regional logistics hub, which includes developing dry ports and logistics zones across the nation. This is in direct alignment with President Al-Sisi’s vision for Egypt’s enhanced regional connectivity.

In closing, Al-Wazir acknowledged the forum’s significance within the context of Sudan’s ongoing economic reforms and its endeavors to attract investments across essential sectors. He appreciated Sudan’s strategic position and its vast resources, which render it appealing to global investors in agriculture and food industries. He concluded by stressing the necessity for continuous cooperation between Egypt and Sudan to bolster their relationship in trade and investment and expressing optimism for future collaboration.

The Egyptian-Sudanese Business Forum aims to strengthen economic ties and enhance collaboration in various sectors between Egypt and Sudan. It highlights the mutual benefits that can arise from increased industrial investments and trade levels. The forum is an opportunity to address the impact of regional conflicts on economic stability and promote international collaboration. This event is significant as both nations seek to utilize their shared resources and historical connections to foster sustainable economic growth and resilience against external challenges.

In conclusion, the first Egyptian-Sudanese Business Forum served as a vital platform for discussing and enhancing economic cooperation. With strong emphasis on increased industrial investment, collaborative frameworks, and the promotion of trade, the forum highlighted the necessity of leveraging mutual strengths. Both nations reaffirmed their commitment to strengthening ties through ongoing support and cooperation, aimed at fostering stable economic development and regional integration.

Original Source: www.dailynewsegypt.com