Egypt and Sudan signed a memorandum of understanding to set up a joint company focused on animal and agricultural production.
The company would have a “large” startup capital and would increase economic cooperation and trade between the two countries, the Egyptian supply ministry said in a statement on Wednesday.
Egypt’s minister of public enterprise said all required materials would be made available to the new company, including 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 stepped up cooperation on several fronts, including militarily. Sudan will also receive $400 million from Saudi Arabia and UAE to fund agricultural production inputs for this year’s summer and winter seasons.