Sudan opens to new trade prospects
Sudan is the third largest country in Africa in terms of size. It possesses diversified geography, ecology and demography. The country has gone through notable trade liberalization and economic progress in recent years. With an abundance of natural resources and commercial exploitation of oil since 1999, the economy of Sudan has improved further.
The government of Sudan adopted Adjustment Policies in 1992, aimed at liberalization of prices and markets, reduction of external and internal imbalances, reallocation of resources and greater private sector participation. These policies initiated a process of economic recovery that resulted in the unification of resources, replenishing of foreign exchange reserves, declining inflation rate and an increasing real GDP growth rate. The establishment of free zones in the country is a part of this endeavour. Moreover, Sudan is a signatory to the conventions on Arbitration and Investment Guarantees and is a member of the Arab Agency for Investment Guarantees and the International Agency for Investment Guarantees.
The bilateral relations between Pakistan and Sudan have remained steady over the years and have not been affected by political changes in both countries. This is evident from the response of the business community in Pakistan to the prospects of investing in Sudan and doing business with the country . Through a vibrant exchange of investment delegations and the signing of a joint investment agreement, both the countries have opened the doors for each other.
Sudanese Free Zones and Markets Co. Ltd. (SFZ)
The Sudanese Free Zones and Markets Co. Ltd. (SFZ) is one of the pioneering economic institutions in the country. It guarantees freedom of capital movement and provides a suitable investment climate for both local and foreign investors. As such, it serves as one of the basic pillars of Sudan’s liberalization policy.
The SFZ was established in 1993, as a stateowned company, to adopt, enhance and implement the Free Zones concept in Sudan in addition to its commitment to a diverse duty free business and exhibition industry.
SFZ is involved in import of varied commodities and goods for wholesale and retail distribution through duty free shops and other outlets in all major towns of Sudan. It also regulates export of raw material and other Sudanese products such as groundnuts, sesame and other oil seeds, cotton, wood products, water-melon seeds, vegetables and fruits, edible oils, animal fodder, meat and livestock.
Fairs and Exhibitions: The SFZ Fair Ground is considered as one of the best exhibition facilities in Africa and the Middle East. SFZ organizes local and international fairs including the annual International Fair of Khartoum. It also represents Sudan in fairs and exhibitions organized abroad. The annual fairs held by SFZ include: • The International Fair of Khartoum • Slates of Sudan Fair • Khartoum Information Technology Exhibition • Sudan Industrial Fair • Sudan Agricultural Fair • Eid Consumer Fair • School and Family Needs Fair
FREE TRADE ZONES Red Sea Free Zone
The Red Sea Free Zone is located at a focal point connecting the Port Sudan, International Airport, Kharloum-port Sudan Highway and Suakin Harbour. about 26 sq. kms. of coastal area at the Red Sea has been allotted to the Red Sea Free Zone. The RSFZ is now ready to host all kinds of investment activities including: • Free Zone Port • Infrastructure Investment Projects • Multi-economic activities • Exports Processing Industries • Industries and Assembling investments • Banking and Insurance activities
Al Gaili Free Zone
Located 60 kilometres north of Khartoum, Al Gaili Free Zone is significant since it is: • Within a vast economic circle accessible to the
country’s main oil refinery station. • Linked with active business and industrial
communities in Khartoum. • Well-connected with air, highway and railway traffic networks extending beyond Sudan’s borders into the African markets.