Su­dan opens to new trade prospects

Enterprise - - Contents -

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.

Trade

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.

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