Sudan looking to enhance bilateral trade
Published on: Wednesday, November 08, 2017
Kuala Lumpur: Sudan is looking forward to enhancing and expanding bilateral trade with Malaysia after the United States (US) revoked the economic sanctions imposed on the country on Oct 6, 2017.Its Ambassador to Malaysia, Hamza Omer Hassan Ahmed, said following the revocation, the two countries were no longer prohibited from engaging in trade.The revocation would reflect positively on the various sectors of the Sudanese economy, including health services, education and research, infrastructure, agriculture and other sectors, he said.
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"Now it is possible for Malaysians to do business in Sudan as banking services will be more accessible and reliable, especially interbank fund transfers to and from Sudan."This will stabilise the country's foreign exchange rate and encourage the inflow of direct investment from Malaysia to Sudan," he told Bernama.He said currently, the volume of trade and investment between the two countries is still small and the enormous potential had yet to be fully tapped."Malaysia's major exports to Sudan are palm oil, metal products and machinery, while its imports comprise mostly agricultural products such as Arabic gum, fruits, timber and black seeds, alongside petroleum products," Hamza Omer said.
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The ambassador said Malaysian investors could tap into the agricultural and livestock sectors in Sudan, which is big supplier of beef to Malaysia."Sudan is the best place to import beef from. The beef is very tasty, organic and chemical-free, and you can be sure it is 100 per cent halal," he said.
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He also said Sudan was rich in natural resources and minerals, with a vast expanse of fertile agricultural land and potable water."The availability of vast areas of uncultivated land and a varied climate make Sudan suitable for growing cereal and horticulture crops," said Hamza Omer.Additionally, he urged Malaysian companies to invest in gold mining, saying the sector had promising prospects.Meanwhile, he said Sudan's Kenana Sugar Company (KSC), which is the largest integrated and diversified sugar factory in the world, had expressed readiness to bring its expertise and resources to help Malaysia diversify its sugar processing industry."It is possible for Malaysia to produce processed sugar even though the country does not have land for sugar cane plantation.Stay up-to-date by following Daily Express’s Telegram channel.
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