UAE’s Assistant Foreign Minister for Economic Affairs Mohamed Sharaf announced on Wednesday, at the conclusion of his visit to Sudan, a joint deal to increase trade between the two countries to $4 billion.
Sharaf said his government seeks to enhance economic and trade cooperation between the two countries, stressing UAE’s keenness to work with Sudan and explore more investment opportunities.
He added that during his three-day visit to Sudan, discussions were held with businessmen and ministers at the federation of Emirati business owners and investors to determine the obstacles to Emirati investments in Sudan and to boost investments through the private sector's role in enhancing economic ties between Sudan and UAE.
Sharaf revealed that there is dissatisfaction regarding the level of trade exchange between Khartoum and Abu Dhabi.
The minister considered that a number of countries attracted Emirati investments thanks to their investment environment and opportunities they provide.
He said investment in Sudan needs more laws.
There are currently UAE investments of more than one billion dollars in Sudan, while trade exchange between them reaches around $3.5 billion, he added.
UAE Ambassador to Khartoum Hamad Mohammad al-Janibi noted that UAE-Sudan ties are strong and historic.
He added that the coming period will witness additional MoUs and bilateral agreements that would increase Emirati investments.
The diplomat affirmed that the Emirati government also seeks to increase investments and trade exchange between the two countries.
The volume of Emirati investments in Sudan will reach $7 billion within a short period, he added.
