Sudan, Turkey Pledge to Boost Relations, Target $2B Trade Volume

Sudan and Turkey aim to reach a trading volume of $2 billion (TL 17 billion) in the next five years, Vice President Fuat Oktay stated this on Friday, underlining the potential of greater economic ties between the two countries.

During the Turkey-Sudan businesspeople narrow-scoped consultation meeting in the capital Ankara, Oktay said that bilateral trade volume reached $480 million in 2020.

He underlined that Sudan, with a young and dynamic population of 44 million and rich natural resources, is on its way to becoming a focal point in the region.

He added that some 100,000 hectares of agricultural land in Sudan were allocated to Turkey to cultivate.

Your Friends Also Read:  Benin Court Frees Igboho’s Wife, Adjourns Yoruba Nation Agitator's Hearing

Oktay said both countries had agreed to allocate another 700,000 hectares to Turkey.

Oktay pointed out that “the agricultural production cooperation in this field led by the General Directorate of Agricultural Enterprises’ (TIGEM) pilot farm project, provides a significant investment opportunity in Sudan for Turkish businesspeople and will also contribute in the fields of employment, agricultural technology and food supply security in Sudan,”

The chairperson of Sudan’s Sovereign Council, Abdel Fattah al-Burhan, on his part said that agriculture, mining, transportation, infrastructure, telecommunications, electricity are areas open for investment while the country aims for win-win relations.

Saying that the country is in a transition period, al-Burhan stated that Sudan will take its deserved place on the international stage and in U.N.

Your Friends Also Read:  Morocco’s Foreign Currency Reserves Rebound After IMF Aid

Oktay said the extent of investments in Sudan is an indicator of the strengthening economic relations between the two countries. Turkey has invested $314 million in Sudan, 90 projects have been undertaken in the country by Turkish contracting companies, of which 20 materialized in the last two years. A branch of Turkish public participation bank Ziraat Katılım was also opened in Khartoum.

The two countries have also signed a range of agreements during the Sudanese delegation’s visit to Turkey. The memorandums of understanding include collaboration in renewable energy and energy efficiency, a cooperation protocol between the foreign ministries, economic and fiscal cooperation between relevant ministries, and military-fiscal cooperation along with an implementation protocol of cash assistance.


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
0
Shares
Previous Article

MTN, Sanlam Partner to Develop Insurance Technology in Africa

Next Article

Arsenal: Kagame in Twitter Meltdown After Brentford Defeat

Related Posts

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.