UAE, Sudan hold talks to boost cooperation in agriculture
BY Muawia IBRAHIM, The Khaleej Times
ABU DHABI, April 18, 2004 — The UAE has taken the lead in forging an economic partnership with Sudan to use the potentials of Africa’s largest country in bridging food gap in the Arab world and to feed vast segments of world’s population.
Officials from the two countries started talks to bolster cooperation in the field of agriculture at the First Sudanese Agro-Investment and Promotional Forum which opened here yesterday.
A number of agreements will be signed during the forum which will continue till April 20. Several deals for joint ventures worth millions of dollars are also being negotiated by prominent UAE investors and the Sudanese delegation taking part in the forum who include ministers, bankers, and businessmen.
Addressing the inaugural session, Dr Shaikh Sultan bin Khalifa bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court and Honouray Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) the forum represented a qualitative step on the road to economic integration between the UAE and Sudan, which will benefit the whole Arab world.
He said in his speech, read out on his behalf by Saeed bin Jabr Al Suwaidi, Chairman of the federation of UAE Chambers of Commerce and Industry said that the forum was an opportunity to come up with a new form of economic relations between the two countries which focuses on utilising the potentials available and giving more attention to the private sector to contribute to building the economy, enacting legislation that help facilitate flow of capitals, and open the doors for foreign investments.
The opening ceremony was attended by Saeed Mohammed Al Raqbani, Minister of Agriculture and Fisheries, Dr Mohammed Khalfan bin Kharbash, Minister of State for Finance and Industry, Sultan Nasser Al Suwaidi, Governor of the UAE central Bank. The Sudanese delegation, headed by Dr Majzoub Al Khalifa, Federal Minister of Agriculture, includes states ministers of agriculture and directors of several banking institutions. The forum is being held under the theme “Bridging the Food Gap in the Arab world”. An exhibition displaying various Sudanese crop and horticultural products is being organised alongside the forum.
Stressing that Sudan had all the potential for successful investment, Mr Raqbani called the private sector and investors in the UAE to make use of the huge natural resources to invest in the agricultural sector in Sudan, where many successful projects await foreign investors.
Dr Kharbash said the Arab world, despite its agricultural resources was still considered a region which suffers food insufficiency. “The agricultural production has decreased while consumption is higher,” said Dr Kharbash.
He added: “This has created a food gap which we suffer and a dwindling levels of agricultural sufficiency in the Arab world.”
He pointed out that the food gap was valued at $14.1 billion in 2001. This figure, however, increased to $16 billion in 2002, he added.
He said this situation calls for collective Arab action to put together all natural resources available and use them in pushing forward national economies.
He urged the private sector in the UAE to establish joint agricultural ventures with Sudan and benefit from the investment environment and the privileges offered by the government of Sudan to investors.
On the investment environment, Dr Khalifa said one of the indicators that the economy in Sudan is doing good is that inflation had come down to one digit and the Sudanese currency is stable. “Our country is flooded by investors from all parts of the world and we are here not to promote our commodity but to invite our brothers to share with us our wealth,” he stated.
He said Sudan is the second Arab country in terms of attraction of foreign investorments in the field of agriculture.
Dr Khalifa said Sudan had introduced new investment laws which aim at encouraging foreign investments and protecting foreign investors, adding that agricultural projects in Sudan are successful and considered as a model.
He said the Sudanese Investment Law of 1999, allows UAE investors to wholly own investment projects in any parts of Sudan. Foreign investors are accorded special prerogatives that include 10-year exemption from profit tax, customs tax and export tax.
The event showcases the agricultural potentials of Sudan and provides an opportunity for UAE investors to get first-hand information on investment opportunities in the Sudanese agricultural sector, Dr Khalifa said.
Sudan owns over 100 million hectares of arable land and hospitable climatic conditions suitable for various field crops.