Turkey, Sudan could begin trade in local currencies: Minister

Turkey, Sudan could begin trade in local currencies: Minister

KHARTOUM, Sudan - Anadolu Agency
Turkey, Sudan could begin trade in local currencies: Minister


Turkey’s economy minister on Dec. 25 suggested conducting trade with Sudan using domestic currencies as a way to boost bilateral commerce.

Turkey and Sudan could build a system that provides an opportunity to use domestic currencies in return for exporting to each other, Nihat Zeybekci told the Sudan-Turkey Business Forum held as part of Turkish President Recep Tayyip Erdoğan’s visit to Sudan.

He said that two countries had taken considerable steps for the future in signing a high-level strategic cooperation agreement.

Business people’s problems in a number of areas, such as banking and transactions, require mutual solutions, he added.

“We have signed an economic cooperation agreement and have put our two countries on the track of free trade,” Zeybekci said.

The two countries will soon set targets and draw up a roadmap together, he stressed. “I think we will solve a number of problems when we meet again,” Zeybekci added.

He underlined that Sudan had a great need for infrastructure investments, while Turkey needed several agricultural products grown in Sudan.

Turkey’s commercial counsellor in the capital Khartoum will take office within 10 days in order to promote bilateral trade ties, he said.

He added that Turkey and Sudan’s economic relations should be high level and based on a win-win situation.

“We are looking for a strategic relationship between the two countries in various aspects and various fields of economic and social development,” said Abdullatif Ahmed Mohamed Ijaimi, Sudan’s agriculture minister, early on Dec. 25.

In 2014, Turkey and Sudan signed an agreement that aims to rationalize the use of resources and agricultural potential and contribute to sustainable food objectives.

Under the agreement, around 780,000 hectares across five regions were earmarked for investment by Turkish entrepreneurs.