LAHORE, Feb 21 (APP):Ambassador of Sudan Salih Mohamed Ahmed Mohamed Siddig has said that Sudan and Pakistan have very good relations but the economic ties are below the ambitions. Sudan is very rich in natural resources, agriculture, mining and livestock, and is keen to make mutual trade and economic ties stronger.
He expressed these views in a meeting with President of Lahore Chamber of Commerce and Industry, Kashif Anwar, here at LCCI Wednesday. Senior Vice President Zafar Mahmood Chaudhry and Executive Committee Members were also present.
The ambassador said that Pakistan and Sudan have very good relations since the establishment of diplomatic ties. Besides good diplomatic relations, both countries have very good cultural ties and many Sudanese students are studying here in Pakistan, he added.
“The goal of this visit is to boost economic relations and the first thing Sudan needs is ensuring food security. In this regard cooperation with countries like Pakistan is very important,” he mentioned.
Salih Mohamed said, “Promotion of relations between the private sectors of Sudan and Pakistan is our goal. Lahore Chamber is very old and experienced chamber and is a big contributor in Pakistan’s economy. I hope that LCCI will play a good role in Sudanese economy as well.”LCCI President Kashif Anwar said that Pakistan and Sudan share a long history of friendship and cooperation, and both are members of the OIC and have been enjoying sound diplomatic ties. “LCCI is well aware of the economic importance of Sudan. As one of Africa’s largest countries, Sudan occupies a strategic geographical location, serving as a bridge between North Africa and Sub-Saharan Africa, making it a key player in regional trade and commerce. Sudan has a diverse economy supported by its vast reserves of natural resources including oil, gold, minerals, and arable land, which serve as the backbone of its economic development. There is certainly a potential to take the bilateral trade volume to at least USD one billion.”He said that Pakistan is exporting pharmaceutical products, packing sacks to Sudan but there are many other product lines which can find their place in Sudanese markets. He said that the agriculture plays a vital role in Sudan’s economy, with fertile lands along the Nile River supporting the cultivation of crops such as wheat, cotton, and sesame. Pakistan can certainly play an important role in Agri-mechanization of Sudan by enhancing the exports of tractors, related parts and other agricultural machinery. On the other hand, Sudan can be a very important supplying market for agricultural raw materials for Pakistan.
Kashif Anwar added that Pakistan can also support the infrastructure development in Sudan by exporting construction materials. There is also tremendous potential of Joint Ventures in Tourism Sector. Pakistan is known for its value-added textiles, leather products, sports goods, carpets and surgical instruments etc., which can be exported to Sudan if Pakistani exports are given better market access. For reduction in trade barriers, the Embassy of Sudan can play a very important role in this connection by facilitating a Preferential Trade Agreement between the two countries.Pakistan has a thriving IT industry and Sudan is making effort for developing its technology sector. Sudan certainly benefits from the expertise of Pakistan in IT and Education sectors.
“Strengthening banking channels can facilitate trade and investment between Pakistan and Sudan. Encouraging financial institutions from both countries to establish branches or correspondent relationships can prove to be very important in this connection”, he said, adding that regular high-level meet-ups, business delegations, and organizing single country exhibitions on reciprocal basis can certainly help in unlocking new opportunities to enhance the trade volume.Kashif Anwar said it is necessary to make a special mention about the Special Investment Facilitation Council (SIFC) established by the Government of Pakistan to primarily focus on expediting new investments in five areas including Defence, Agriculture, Minerals, Information Technology, Telecommunication and Energy.The LCCI President hoped that the Ambassador of Sudan will apprise the investors in Sudan about SIFC and encourage them to invest in Pakistan in these sectors through Joint Ventures. In addition to that the Government of Punjab is making all out efforts to improve doing business in the province by facilitating international and national investors through one window operation.
