South Sudan, Egypt Strengthen Economic Cooperation and Capacity Building Efforts
South Sudan’s Minister of Finance and Planning, Hon. Dr. Bak Barnaba Chol Bak, recently held discussions with Egyptian Ambassador Mohammed Almoatez to enhance bilateral cooperation between the two nations.
During the meeting, Minister Bak announced his upcoming visit to Egypt to solidify economic ties and strengthen partnerships between the two countries.
Both parties expressed their commitment to signing a Memorandum of Understanding (MoU) to facilitate cooperation on vital matters such as tax and non-oil revenue management. The MoU aims to optimize revenue collection and administration, ensuring more effective fiscal policies.
Additionally, the discussions emphasized the significance of technical and capacity building initiatives within South Sudan’s Finance Ministry. Egypt pledged its support to enhance South Sudan’s technical capabilities, fostering growth and development in the area of finance and planning.
Minister Bak and Ambassador Almoatez also underscored the importance of implementing a double taxation agreement. This agreement will mitigate tax burdens for businesses operating between the two countries, fostering a favorable environment for trade and investment.
Ambassador Almoatez reaffirmed Egypt’s commitment to supporting various capacity building programs in South Sudan. This reflects Egypt’s dedication to empowering South Sudan through knowledge transfer and skills development.
These discussions showcased the determination of South Sudan and Egypt to strengthen economic cooperation, optimize revenue management, and foster sustainable growth. The anticipated MoU signing and collaborative efforts underscore the shared vision of both nations to promote economic prosperity and mutual benefits.