Dr. Mostafa Madbouly, the Prime Minister, witnessed the signing of a memorandum of cooperation between the Suez Canal Authority and Qatari company "Baladna," focusing on food security, at the Cabinet’s headquarters in the New Administrative Capital.
Subtitle: Distinguished Attendance
The signing ceremony was graced by Mr. El Qasir, Minister of Agriculture and Land Reclamation, Major General Hisham Amina, Minister of Local Development, and other eminent figures alongside Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, and Tarek Al-Ansari, Qatar's ambassador to Cairo.
Subtitle: A Pioneering Dairy Venture
The memorandum outlines preliminary cooperation areas for producing and processing dairy in Egypt, with investments reaching up to $1.5 billion. It also inaugurates a cattle farm with an initial capacity of 20,000 cows aimed at producing 300 million liters of milk annually.
Subtitle: Boosting Bilateral Relations
The Prime Minister emphasized that this agreement is a part of the efforts towards enhancing bilateral relations between Egypt and Qatar economically, following several months of preliminary discussions and studies to identify the basic principles of cooperation and the action plan for the next phase.
Subtitle: Advancing Food Security
The initiative envisions supporting food security through dairy products, creating job opportunities for the youth, and saving the cost of importing these products in foreign currency.
Subtitle: Future Steps
Both parties expressed enthusiasm for detailed discussions and comprehensive studies to set a work plan for the next phase, aiming at developing the agricultural sector and enhancing food security, considered one of the major global challenges.
Subtitle: Commitment to Excellence
Representatives from "Baladna," the largest dairy-producing company in Qatar, affirmed their readiness to invest in this project with all available resources and global-level expertise, applying the best sustainable international practices.
Subtitle: Anticipating Fruitful Cooperation
Malcolm Jordan, CEO of "Baladna," expressed eagerness for collaboration with the Suez Canal Authority to implement a promising project with an Egyptian imprint, appreciating the constructive cooperation from the authority to facilitate turning discussions into tangible and realistic cooperation.
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