POST Online Media Lite Edition



 

Saudi Arabia and Sudan trade reached $4 billion

Staff writer |
The volume of trade exchange between Saudi Arabia and Sudan reached more than $4 billion, and poised to hit $8 billion (SR30 billion), Abdulhafeez Mohammed Ibrahim, ambassador of Sudan to Saudi Arabia, told local media.

Article continues below






This is to happen particularly after the first appearance of many new investments and largely by the Saudi private sector. The Sudanese ambassador said the fifth session of the joint Ministerial Committee between both countries will be held in March. The Saudi Ministry of Agriculture is organizing the meeting, Arab News reported.

Mr. Ibrahim said the previous meeting, held in Riyadh, came out with a very important recommendations, including the creation of "Fursas" company with a capital of $100 million.

The company is assigned to carry out feasibility studies to enable the investor choose his areas of investment, whether in the field of agriculture, livestock, services or in real estate, Mr. Ibrahim said.


What to read next

Saudi nonoil exports top $5 billion
Sudan lost $7 billion due to closed border with South Sudan
Saudi Arabia seeks private partner for rail operations