Current Date:

Saturday, 11 November 2017

US Businessmen to Visit Khartoum Next Month

Khartoum - (smc) A delegation of American businessmen and investors will visit Khartoum next month to look into investment opportunities in the resource-rich country,

according to the Sudan Employers Union.
Speaking to the SMC, secretary of Strategic Policies and Planning in the Union Samir Ahmed Qassem said a package of financial and trade policies is being discussed with their counterparts in the US and Europe to effectively pull through the six-month period  sanctions review period and to prepare for the complete lifting of the ban.
In this regard, the Union is taking practical steps in coordination with the Sudanese Banks Union and a number of authorities to ensure their readiness for the grace period and the following phase, while ensuring that all policies advance the national economy.
He said that the joint committees, which were recently established with the Banks Union and Central Bank, proceeds as required in its tasks related to banking and commercial procedures during this phase.
Last month, the United States had announced the end of a 20-year economic embargo on Sudan, lifting trade and financial sanctions in an effort to foster ties with the Sudanese government.
The announcement made by outgoing President Barack Obama’s administration after an executive order to permanently repeal a range of sanctions as a result of Sudan’s efforts to improve security in the region.
For the first time in two decades, Sudan will be able to receive imported goods and services from the US, as authorised by the US Department of the Treasury.
The lift will also release frozen Sudanese property and assets held in the US, and permits the trade with the oil and gas industry in Sudan.
Sudan hosts a wealth of investment opportunities in agriculture, oil and the mining sectors among others. The final lifting of sanctions is expected to open new doors of investment and cooperation between Sudan and the rest of the world.