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UAE-Sudan trade hits $2.6 billion in 2014

The Sudanese Ambassador says that his country's production of gold, a main export to the UAE, will rise to 80 tonnes this year from 50 tonnes last year

Trade exchange between the United Arab Emirates and Sudan recorded $2.6 billion in 2014, mainly driven by larger exports of gold to the UAE.

The figure indicates a rise of 63 per cent from 2013 when the two-way trade between the two Arab nations stood at $1.6bn, said Sudanese Ambassador to the Ahmed Yousef Mohammed Al Siddiq.

The ambassador says, in remarks carried by Al Bayan, that UAE investments in his country amount to $2.2bn and are projected to grow significantly in the coming period.

On May 12 and 13, a UAE-Sudan investment forum will open, co-organised by the Abu Dhabi Chamber and Sudan’s Ministry of Investment.

Director General of the Abu Dhabi Chamber, HE Mohammed Hilal Al Muhairi, says that the event will highlight and familiarise UAE investors and businessmen with potential investment opportunities in Sudan.

It is noteworthy that the countries have already signed agreements on free trade, double taxation and investment protection.

The Sudanese Ambassador says that his country’s production of gold, a main export to the UAE, will rise to 80 tonnes this year from 50 tonnes last year.

Sudan has considerable reserves of various minerals including gold, iron, copper, uranium and tin. It also has about 140,000 acres of agricultural land.