Sudan, China agree to settle debts and promote economic cooperation: official
September 5, 2015 (KHARTOUM) – Sudan’s minister of finance, Badr al-Din Mahmoud, said the visit of president Omer al-Bashir to China has set a solid ground for a new breakthrough in relations between the two countries particularly with regards to the economic aspects.
Mahmoud told the official news agency (SUNA) on Saturday that the agreements signed with the Chinese government would contribute positively to the mobilization of the Sudanese economy.
He said that he discussed with his Chinese counterpart ways for trade, economic and financial dealings between the two nations, saying China will offer new preferential loans that would be allocated to increasing production and exports.
The Sudanese minister disclosed they agreed to promote banking cooperation between the two countries and to use the Yuan in settling financial transactions and scheduling Sudan’s debts.
He pointed that a joint committee would convene in Khartoum soon to discuss ways for economic cooperation between the two countries.
Mahmoud added that the Chinese leadership is keen to push forward cooperation in gas and oil besides addressing Sudan’s debts through increasing production particularly in the oil domain.
He revealed that they agreed to establish a joint maritime line company, saying the foundations of the partnership would be set during the coming few days.
“Also among the gains achieved during the visit [of Bashir] was the agreement to buy new trains [from China] and to maintain the broke trains,” he added.
Mahmoud further stressed they completed the agreement pertaining to financing the rail road linking Port Sudan to Ed Damazin besides linking Sudan to Ethiopia.
China has been Sudan’s largest foreign investor particularly in oil and telecommunications after western firms shunned the East African nation due to conflicts and sanctions.
HIRE-PURCHASE OF SHIPS AND PLANES
Meanwhile, the Sudanese minister said they agreed with China to lease seven ships and two aircrafts through the hire-purchase.
“The two planes would remain registered under the name of the Chinese company until the ownership is being transferred to Sudan airways,” he said.
He pointed the ships and the aircrafts will arrive in Sudan within a few days accompanied by technical teams.
Mahmoud added that an agricultural agreement covering areas of agricultural technology and manufacturing has been signed during the visit, stressing it would promote agricultural cooperation between the two countries.
“It [the agreement] would positively impact on increasing production and productivity for some important crops,” he said.
The minister pointed out that the understandings with the Chinese side covered industrial cooperation in the various fields besides the continuation of cooperation in the mining sector and the establishment of a free-trade zone in the Red Sea.
“Security and military industry cooperation would push forward relations between the two nations,” he added.
(ST)