19 July 2017

Sudan: Resumption of Transactions With Banks Supports Plans for Increase Exports

Khartoum — The General Director of the National Agency for Exports Financing and Security, Ahmed Babiker Ahmed stressed that the full resumption of the financial transactions between the Sudan and the international banks supports the agency's efforts for the increase and flow of Sudan's exports to the international markets and facilitates transfers to all the world banks.

he said that the agency is prepared to secure exports revenues paid by various means, especially the long-term payments, including the documentary credits, adding that the agency, since the begging of this year, has provided coverage of security credits to the exports of the various commodities including sesame, edible oils, gum Arabic, meat, livestock and other exports to a number of states including Jordan, Saudi Arabia and other countries of the world.

Ahmed Babiker noted that the agency has recently renewed the agreement on re-insurance of export revenues with the Islamic Corporation for the Insurance of Investment and Export Credit of the Islamic Bank in Jeddah, adding that the agency has obtained large ceilings for importers of Sudanese goods including the return of all export earnings, especially gum Arabic and livestock.

Meanwhile, he welcomed the decision of the United States Department of Agriculture for the addition of Sudan to the export credit guarantee program, indicating the direct and indirect impact of the decision on increasing the exports and enabling the country to import high-quality production inputs to the industry for export.

he pointed out that the return of Sudan to the US export credit program provides an opportunity for Sudanese exporters to directly deal with US importers of agricultural commodities required in the US market such as gum Arabic, adding that the program also allows the local banks to directly deal with their US counterparts in importing productions inputs, the agricultural, and animal technologies that lead the Sudan's exports.

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