Abu Dhabi / WAM
Sultan bin Saeed Al Mansouri, Minister of Economy, has stressed that Sudan is capable of becoming the food basket of the Arab region and called for joint efforts to promote promising investment opportunities in the countryâ€™s agriculture and food industry.
He was speaking during a meeting with Ambassador of Sudan to the UAE, Mohammed Amin Abdullah Al Kareb, in the presence of ministry officials.
They discussed ways of enhancing cooperation about food security, a priority for the UAE.
Al Mansouri said the UAE is at the forefront of efforts to support major projects in Sudan.
He noted that the UAE is Sudanâ€™s largest Arab trade partner.
In the first nine months of 2015, trade between the two countries stood at AED1.5 billion, he noted.
In 2014, Sudanâ€™s exports to the UAE stood at more than US$1.9 billion. Sudanâ€™s imports from the UAE stood at a little more than US$203 million (0.6 percent of the UAEâ€™s total exports).
UAEâ€™s re-exports to Sudan reached US$308 million in the same year.
The minister added that with US$6 billion, the UAE is the second largest Arab Gulf investor in Sudan after Saudi Arabia.
He said that total investments of Arab Gulf countries stand at US$21 billion.
Ambassador Al Kareb said Sudan possesses huge natural resources, including minerals and precious stones, as well as large areas of fertile lands.
He also noted that a high-profile Sudanese delegation will participate in the Annual Investment Meeting in Dubai form April 11-13.
He cited mining, agriculture, livestock, properties, infrastructure and power generation as Sudanâ€™s most promising sectors for foreign investment.
Organised by the UAE Ministry of Economy, the sixth Annual Investment Meeting will have the theme â€œThe New World of FDI, Key Features, and Best Practicesâ€, he noted.
The event is under the patronage of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.