DCCI receives Consul General's Deputy of Sudan in the UAE

They discussed ways of enhancing the bilateral economic and trade relations between both countries and the possibility of holding seminars and workshops in Dubai to promote the investment opportunities available in Sudan.

Al Mutaiwee welcomed the Sudanese diplomat stressing the role of the DCCI in supporting the local economy and the activities of the UAE businessmen in Dubai and the role of the DCCI in underlining Dubai's position as an international and regional trade center. He also highlighted Dubai Chamber's interest in improving the trade cooperation between Dubai and Sudan and the need for the authorities concerned in Sudan to promote the investment opportunities and vital projects in Sudan and the facilities available for investors.

"We believe that Sudan enjoys an encouraging investment potential of major sources of economy which are yet to be exploited, in addition to the qualified manpower which encourages Arab investors to establish a trade activity in Sudan, whose geographical location creates a vital link between the Arab world and Africa," said Al Mutaiwee.

He underlined the importance of promoting the investment opportunities in Sudan in all economic sectors. He said: "We suggest that the authorities concerned in Sudan to arrange a promotional campaign to introduce the investment opportunities available in Sudan in an organized way through preparing various economic case studies and other information about the laws of investments in Sudan and the facilities provided by the Sudanese government to investors. It will also be significant to invite a number of successful economic project owners in Sudan to help encourage other investors to establish new projects."

Advisor Hussain Al Ameen Al Fadel, Consul General's Deputy of Sudan in the UAE, stressed his government interest in activating the trade and economic cooperation between Sudan and Dubai due to Dubai's economic development and its importance as an international and regional trade center.

"Sudan enjoys encouraging investment potential in all economic sectors as the Sudanese capital, Khartoum, is witnessing a comprehensive economic development. The Sudanese government is currently building a big dam at 'Marawi' area in north Sudan to generate electricity and irrigate wide spaces of land used for agriculture, due to be complete in 2007," said Advisor Al Fadel.

He also highlighted the Sudanese government's interest in organizing the "Al Khartoum International Exhibition" in February 2006 aiming to promote Sudanese products through holding a number of seminars and workshops. He added that the Sudanese Ministry of Investment is also planning to hold a seminar in Dubai in February 2006 to introduce the business community in Dubai to the investment potential in Sudan.

"Al Khartoum Stock Exchange, which was recently established, is planning to launch a promotional campaign to introduce the investment deeds which the Sudanese government issues through providing the participants of the seminar with useful information about the government investment deeds in a way that helps investors take investment decisions freely and transparently," said Advisor Al Fadel.

He noted that the total value of the investment deeds issues are estimated at Sudanese Dinar 15 billion with a 6-year duration and a 14 to 16% rate of profits that are distributed every 3 months.

Dubai's total non-oil foreign trade with Sudan reached AED 896.6 million in 2004 (US Dollar 244.1 million), whereas Dubai's total imports from Sudan in 2004 reached AED 188.7 million (US Dollar 51.3 million). Dubai's total exports to Sudan surged in 2004 to AED 156.7 million (US Dollar 42.6 million) and Dubai's re-exports to Sudan in the same year reached AED 551.2 million (US Dollar 150.1 million).