Ambassador Mohamed Abu Bakr Saleh, Deputy Minister of Foreign Affairs, International Cooperation and Egyptians Abroad for African Affairs, held a meeting with a delegation from the Sudanese business community, which included representatives of the Employers Federation and the chairman and members of the Sudanese side of the joint business council between the two countries, in the presence of Lieutenant General Emad El-Din Mustafa Adawi, the Sudanese Ambassador to Cairo.

Crises affecting the global economy

During the meeting, the Deputy Minister reviewed Egypt’s preparations to host the African Business Summit scheduled to be held next June in New Alamein City, under the auspices of the African Union, stressing the importance of holding it in light of the current international and regional circumstances and the crises affecting the global economy, especially in the areas of energy, supply chains and transportation.

He noted that the summit will focus on key issues including energy security, the future of rare earth minerals, development corridors, as well as transportation, logistics, technology, health, infrastructure development and the building of smart cities.

He also noted the expected broad participation from major African companies and international and regional financing organizations, as well as the presence of a number of CEOs of multinational companies that are paying increasing attention to the African market.

Promising economic opportunities between Cairo and Khartoum

The meeting also addressed prospects for enhancing economic cooperation between Egypt and Sudan, where opportunities for partnership between the business communities in the two countries were discussed in multiple sectors, most notably the food and pharmaceutical industries, in addition to supporting the participation of Egyptian companies in reconstruction efforts in Sudan, especially in the areas of developing and rehabilitating infrastructure.

Investment opportunities in the agricultural sector were also discussed, which would contribute to enhancing shared food security, in addition to strategic connectivity projects between the two countries, including railway lines, electricity, and river transport, which would enhance economic integration and support intra-regional trade between Cairo and Khartoum.

The African Business Summit, scheduled to be held next June in New Alamein City, is one of the most prominent economic events on the continent, as it comes under the auspices of the African Union and with broad participation from governments, the business community and regional and international financial institutions.

The summit aims to promote economic integration among African countries and open new horizons for investment in vital sectors including energy, infrastructure, technology, health, transport and logistics.