Arab Importers & Exporters Union plans US$1.5 billion Investments in Sudan

The Arab Importer and Exporter Union intends to implement a number of investment projects in Sudan worth US$1.5 billion.

The projects will be in economic, trade and service fields.

From his part, the Union’s secretary general Mossad Rashid, who is currently visiting Khartoum, referred in a press statement on Sunday to a number of memorandums of understanding (MoUs) to be signed with Sudanese Free Zones & Markets within two days.

One of those anticipated MoUs aims to establish two plants; one for home appliance and another for manufacturing gas cylinder, with investments of US$500 million, he noted.

Moreover, Rashid stated that another memorandum of understanding is to be signed with the Egyptian Millers to supply part of Sudan’s wheat needs according to commodity exchange system.

The Arab Importer and Exporter Union was established in December 25, 2005 as an Arab international organization, and an organizer for the Arab Economic Unity Council. The union works on development trade between Arab countries, and facilitates the flow of goods of Arab origin through many mechanisms such as studying the Arab markets, the provision of data and marketing economic information. In addition, it also works on holding quality specialized exhibitions, conferences and seminars and activating the role of the Arab private sector in exports and inter-Arab trade.