Home | News    Wednesday 12 September 2018

Sudan, Turkey strike $100 million oil investment deal

Sudan FM El-Dirdeiry Mohamed Ahmed (L) shakes hands with Turkish FM Mevlüt Çavu?o?lu (Photo Cem Ozdel)
September 11, 2018 (KHARTOUM) The Turkish minister of agriculture and forestry Bekir Pakdemirli said his country has signed a $100 million agreement to invest in oil exploration and production in Sudan.

Earlier this week, Turkish Deputy Minister of Economy al-Fatih Matin arrived in Khartoum accompanied by a delegation of 40 Turkish businessmen hunting for investment opportunities in Sudan.

On Saturday, the Sudanese government announced the formulation of a roadmap to implement agreements signed with Turkey in the economic, financial, banking and commercial fields as well as gas, oil, agriculture, livestock and minerals projects.

Following his meeting with the Sudanese President Omer al-Bashir on Monday, Pakdemirli said the two countries also signed a number of animal wealth and agriculture investment agreements.

He pointed out that an agreement has been signed between the two countries to facilitate banking transactions in order to increase the volume of trade exchange which currently stands at $481 million.

The Turkish minister said his meeting with al-Bashir discussed all issues pertaining to bilateral cooperation as well as issues of common concern.

The Turkish-Sudanese relations have reached a high level, especially after President Erdogan visit to Sudan last December.

During Erdogan’s visit to Khartoum, the two sides signed 12 cooperation agreements and agreed to launch a strategic partnership covering agriculture, industry, minerals and health.

They also approved the establishment of a higher political committee headed by the two presidents, saying the committee would annually meet in Khartoum and Ankara alternately.

The two sides agreed to raise trade exchange between the two countries to $1 billion within one year to reach $10 billion in the future.

According to a report issued by the Sudanese Ministry of Investment, the volume of Turkish investments in Sudan amounted to 2 billion dollars from 2000 to 2017.

It further indicates that there are 288 Turkish investment projects in the east African country.

(ST)