Kuwait played key role in lifting Sudan sanctions: Envoy
KUWAIT: The Ambassador of the Republic of Sudan to the State of Kuwait Mohiuddin Salem said that his country has launched a new stage after the United States lifted a myriad of economic sanctions imposed on Sudan.
“Kuwait under the leadership of His Highness Sheikh Sabah AlAhmad played a prominent role in lifting those sanctions,” Salem said during a press conference held on Thursday at his residence on the occasion of the Kuwait-Sudan Economic Forum and the Sudanese Products Exhibition, which is organized under the slogan ‘Towards a developed economic partnership.’ He further stressed that the volume of Kuwaiti investments in Sudan exceeded $7 billion, considering that they are real investments targeting vital sectors in Sudan that benefit both the countries.
He also highlighted the Sudanese government’s implementation of a number of institutional reform programs, especially economic policies, which allow the private sector to contribute to the promotion of foreign direct investments. He added that the lifting of economic sanctions has led to Sudan’s openness to international nations and the government’s efforts to reintegrate the Sudanese financial and banking system into the international system to improve the business environment in a way that enhances opportunities for new economic partnerships, especially among private sector institutions at local, regional and international levels.
Capital movement
After the lifting of the economic sanctions, the capital movement has become more vibrant, the ambassador said. He added that the forum will present successful foreign and national investment experiences as an opportunity for businessmen in both countries to establish investment partnerships and trade deals that benefit both countries, especially with the existence of investment projects ready to be presented at the forum to the public and private sectors or the partnership between them. He pointed out that the forum will be held tomorrow and Thursday in the presence of Sudanese Minister of Investment Mubarak Al-Mahdi and Kuwait Chamber of Commerce and Industry’s Chairman Ali Al-Ghanem.
Salem pointed towards the participation of more than 40 Sudanese businessmen in the forum, as well as a group of major Sudanese companies working in the field of investment and trade, in addition to the official institutions concerned with investment policies and new banking policies. Climate, investment opportunities and trade in vital sectors, especially agriculture, livestock, industry, oil, mining, infrastructure, services and tourism are topics that will also be featured.
Seriousness to cooperate
On the US-Sudanese relations, Salem referred to “the seriousness of the Sudanese and American sides to cooperate. The past two weeks witnessed the visit of several American companies to Sudan to explore more areas of joint cooperation.” He highlighted a number of promising areas for investors in Sudan, mining, oil and gas. The economic adviser at the Sudanese embassy to Kuwait Faisal Jumaa said that the size of Kuwaiti investments in Sudan is large, and most of the Kuwaiti companies remained in Sudan during the sanctions period, explaining that the first loans and assistance provided to Sudan were from Kuwait in 1960. He revealed a conference to be held in Khartoum-Sudan in December to bring together Arab funds specialized in development and lending to examine a comprehensive study on Arab food security prepared in cooperation between the Arab Fund for Economic and Social Development and one Advisory biographies within the first Arab economic summit held in Kuwait in 2009.