Egypt and Sudan have signed a memorandum of understanding to set up a joint company for agricultural and livestock production, the Ministry of Supply in Cairo announced yesterday, Reuters has reported.
The ministry said that the company would have a "large" capital base and would "increase economic cooperation and trade between the two countries."
In a related context, Egypt's Minister for Public Enterprise pointed out that all the required production materials would be made available to the new company. "This includes items needed in animal husbandry or fodder cultivation, meat and dairy industry tools."
Sudan is known for its livestock, of which neighboring Egypt is a frequent importer. The two countries have intensified cooperation in multiple areas in recent years, especially on the military level. Khartoum is also slated to receive $400 million from Saudi Arabia and the United Arab Emirates to finance agricultural production requirements for this year's summer and winter seasons.