Sudan, Saudi Arabia Trade Exchange Expected to Reach $8 Billion
Khartoum – Trade exchange between Sudan and Saudi Arabia has reached more than four billion dollars and expected to double during the current year after Sudan has built model abattoirs to export meat, says Abdul Hafeez Ibrahim, Sudanese Ambassador to the Kingdom.
Trade exchange between the two countries is increasing after key investors from Saudi private sector begin to invest, the ambassador said.
The ambassador said in statements to the Saudi Al Riyadh newspaper Saturday they were in the process of holding the fifth session of the Ministerial Joint Commission meeting between the two countries in March which is being prepared by the Saudi Ministry of Agriculture and that will further increase trade exchange between the two countries.
He said the previous meeting held in Riyadh came up with important recommendations where "Furas" company was established at a capital of $100 million. The company is preparing feasibility and technical studies to enable investors to access the most important studies.
The ambassador has dispelled fears of investors over security situation and alleged instability in the country, stating that Sudan has recently enacted new laws to protect Saudi investors and other businessmen besides the creation of an ideal investment environment to attract investors in the form of new investment law.
Regarding the size of the Sudanese community in Saudi Arabia, the ambassador said the official figure is 680,000 Sudanese workers in the Kingdom.
As for the Saudi authorities' campaigns targeting undocumented workers, Ibrahim said about 15,000 Sudanese citizens have been transported home.
Trade exchange between the two countries is increasing after key investors from Saudi private sector begin to invest, the ambassador said.
The ambassador said in statements to the Saudi Al Riyadh newspaper Saturday they were in the process of holding the fifth session of the Ministerial Joint Commission meeting between the two countries in March which is being prepared by the Saudi Ministry of Agriculture and that will further increase trade exchange between the two countries.
He said the previous meeting held in Riyadh came up with important recommendations where "Furas" company was established at a capital of $100 million. The company is preparing feasibility and technical studies to enable investors to access the most important studies.
The ambassador has dispelled fears of investors over security situation and alleged instability in the country, stating that Sudan has recently enacted new laws to protect Saudi investors and other businessmen besides the creation of an ideal investment environment to attract investors in the form of new investment law.
Regarding the size of the Sudanese community in Saudi Arabia, the ambassador said the official figure is 680,000 Sudanese workers in the Kingdom.
As for the Saudi authorities' campaigns targeting undocumented workers, Ibrahim said about 15,000 Sudanese citizens have been transported home.
By Staff Writer, 1 day 21 hours ago
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