(MENAFN - Arab News) The Khartoum-based Arab Authority for Agricultural Investment and Development (AAAID) has revealed it will propose two agricultural investment projects at an Arab private sector forum in Riyadh in January, Saudi Press Agency reported.
The two-day forum on Jan. 12 and 13 is a joint venture of the Council of Saudi Chambers (CSC), the General Union of Chambers of Commerce, Industry, and Agriculture for Arab Countries (GUCCIAAC), and the General Secretariat of the Arab League.
The first project will aim to produce, process and market animal products in Sudan, a country already recognized for its agricultural resources, regionally and internationally. Sudan is the richest country in the Arab and African region in terms of animal resources, with 130 million head of sheep and cattle.
AAAID estimates the project will provide an enormous yield of livestock for export to Arab countries and fulfill a market demand during the Haj season.
The second project aims to establish an agricultural investment holding company in Saudi Arabia. The proposed company will produce wheat, barley, potatoes, rice, corn, soy, and alfalfa, to supply the Middle East and North African countries and cover potential food shortages.
The proposed company's projects and investments will be distributed in accordance with demand through the formation of investment portfolios and partnerships.
AAAID was established in 1976 as an independent financial agricultural investment institution. Its primary goal is to achieve food security through the development of agricultural resources in member countries.