Trade exchange bet. Egypt & Sudan reaches $1.4B in 2023

Head of the Commercial Representation Authority, Yahya El-Wathiq Billah, announced that Sudanese investments in Egypt amount to $240 million, while Egyptian investments in Sudan have reached $1 billion.

 Additionally, the trade exchange between the two countries in 2023 stood at approximately $1.4 billion.

 The General Authority for Investment and Free Zones (GAFI) hosted a forum for Sudanese businessmen to explore ways to deepen cooperation between the Egyptian government, the Sudanese Embassy, and the Sudanese Chambers of Commerce and Industry.

Discussions focused on understanding the real needs of Sudanese companies seeking to establish projects in Egypt.

Hossam Heiba, CEO of GAFI, encouraged the Sudanese business community to leverage Egypt’s infrastructure boom by investing in free zones in southern Egypt, particularly the Qeft Free Zone in Qena, located just 170 km from the Safaga export port, and the Aswan Free Zone, which is currently being equipped with facilities.

These zones offer unique geographical advantages for Sudanese investments tied to raw material supplies and intermediate industries from Sudan, along with additional investment incentives as they are part of Egypt’s priority development areas.

Heiba also announced the creation of specific programs to support young Sudanese entrepreneurs in coordination with relevant Egyptian and Sudanese authorities.

These efforts complement the existing economic incentives aimed at supporting developmental activities in both countries.

Following the first Egypt-Sudan Business Forum held last November, both governments are preparing for the second forum in April in Sudan.

These forums along with the Sudanese Businessmen’s Forum serve as pillars for deepening economic cooperation, connecting Sudanese investors with opportunities in Egypt, and coordinating efforts for Sudan's reconstruction with the involvement of Egyptian companies.