Emarate Sharjah, Sudan agree to boost economic cooperation
June 7,2006 (SHARJAH) — Sharjah Chamber of Commerce and Industry (SCCI) expressed today its support for efforts to boost constructive cooperation between the UAE and Sudan with the aim of strengthening integrated joint partnership.
SCCI Chairman Ahmed Mohamed Al Madfa praised the progress of the Emarati-Sudanese economic cooperation and called for enhancing mechanisms of cooperation for the sake of setting up more private joint ventures.
The SCCI chief made his remarks during a meeting with Sudanese Ambassador Haj Al Faki Hashim.
The meeting explored investment opportunities offered by Sudan to UAE investors in infrastructure, water, power, communications, IT, transport and other sectors. They also reviewed issues of mutual interest.
A memorandum of understanding (MoU) for cooperation between Sudanese and Emarati businessmen was signed during the meeting.
The Sudanese envoy invited the chief and members of the SCCI board to visit Sudan to attend the Khartoum business forum scheduled for 8-9 November.
Two way trade exchange grew by 430 per cent over the last five years to US$ 450 million. UAE investment in Sudan stood at US$ 1.3 billion and finance facilities extended by UAE banks to investment projects in the African country were valued at US$ 1 billion.
(ST/WMA)