The Economic Relations between Sudan and Turkiye

The Economic Relations between Sudan and Turkiye

 

Sudan and Turkiye have very good bilateral relations, which started since the independence of Sudan in January 1^st 1956. Turkiye was one of the first countries who opened an Embassy in Khartoum in 1957. From that day, the ties between the two countries go very well in all aspects, based on exchangeable respect and mutual intereststo serve the people of Sudan and Turkiye.

 

Both countries have huge natural resources and so many different factors which encourage the creation of mutual cooperation between them, and that’s allowing the transfer of experiences and expertise in economical areas and other important sides.

 

The economical part, considered as the crown of bilateral relations because of many agreements and memorandum of understanding which were signed between the ministries and other concerned departments. The historical visit of the president Recep Tayyip Erdoğan to Khartoum in December 2018also supported the establishmentofa new era of cooperation between Sudan and Turkiye.

 

During the visit, both sides signed twenty two agreements in economic and trade sector. The most important ones were the strategic cooperation agreement and the economic and trade partnership agreement. Also, many working mechanisms have been formed headed by the presidents of the two countries, both sides agreed to raise the trade exchange rate up to 10 billion$.

 

Besides that, Sudan and Turkiye have an agreement on facilitating bank transactions, which affects positively the mutual cooperation on trade investments. Within this concept, Turkish Ziraat Bank has opened one of its external branches, in Khartoum to enhance the economic cooperation between both sides and to encourages and attracts the investors.

 

There are many bilateral committees formed between the ministries of Trade, Finance, Industry Agriculture and forestry and Labor, so the work could flow smoothly without any obstacles. All committees are headed by the undersecretary of the concerned ministry. Also there is other committee gatheredcentral banks from both sides.

 

Sudan and Turkiye are connected by many investments projects based on the above mentioned agreements and understandings. For example;in agriculture sector, both countrieshave signed an agricultural partnership agreement. Also there are investments in power and mining and sector.

 

In spite of changing and challenging circumstances in Sudan and Turkiye, both of them succeeded to find a positive cooperation mechanisms,which contributed to open new horizons for the bilateral relations between the two sisterly countries.