Egyptian Sudanese Trade Exchange Upgrading
Sudan Events – Rehab Abdullah
The Executive Director of the Egyptian Sudanese Company for Development and Multiple Investments, Nasr Hamed, announced that the company seeks to increase the volume of trade exchange between Egypt and Sudan, which stands at $1.5 billion annually.
Hamed explained that Egypt’s most important imports from the Sudan include food commodities such as sesame, gum Arabic, cotton, and peanuts, which is worth up to $500 million annually, indicating that goods exchanged is applied between the two countries to avoid pressure on the foreign currency.
The Executive Director revealed that about 5,000 tons of soybeans are being imported from Sudan to Egypt for the first time, but said the aims is to increase it next year to 20,000 tons, noting that importing soybeans from Sudan will be at a competitive price due to the close distance compared to other countries.
Hamed explained during his participation on the sidelines of the opening of the activities of the eighth session of the International Trade Fair for Food and Beverages “Food Africa”, held from December 12 to 14 at the Egypt Exhibition Center, that the company is preparing to supply 30,000 heads of livestock from Sudan and Djibouti, to meet the local needs as the rates of consumption is on the increase.
