Trade and Industry Minister Mounir Fakhri Abdel Nour said Tuesday that the food industries sector has the potentials to grow and lead Egypt's economy for new levels of competitiveness.

Egypt has one of the biggest markets in the Middle East and Africa, Abdel Nour said during a ceremony marking inking an agreement between Arla Foods and its local partner Juhayna.

Under the agreement, both companies establish a joint venture at total capital of EGP 200 million.

The minister described the agreement as a proof of the success made by Egypt's plan to reform its economy.

The signing was also witnessed by Minister of Investments Ashraf Salman.
Source: MENA